[PrintOwners] 1099 Info

[Simon Sheers]

To confirm that you are NOT required to request a 1099-MISC from a 
supplier of goods and merchandise, here is the link below. Note that 
the IRS has improved the 1099 instructions for 2007, and specifically 
mentions merchandise as an exception, whether or not from a 
corporation.

Go to: <http://www.irs.gov/instructions/i1099msc/ar02.html>

Scroll down past the 'Caution' sign to:

Exceptions.    Some payments are not required to be reported on Form 
1099-MISC, although they may be taxable to the recipient. Payments  for 
which a Form 1099-MISC  is not required include:
• Generally, payments to a corporation; .....
• Payments for merchandise, telegrams, telephone, freight, storage, and 
similar items;

> "....they make out the ckecks to my business, and to me personally."

You need to explain, however, why you accepted checks payable to 
yourself, not the company.


> I got a request from a customer for me to fill out a W-9 so they could 
> send me a 1099 form.
> Why is this required? It used to be only non-profits that wanted this 
> info. Now commercial customers also want it. WHY? It was once 
> explained that since they were employing my services, there needed to 
> be proof that I was not an employee. However, they make out the ckecks 
> to my business, and to me personally. Any explaination, would be 
> appreciated.
> Bob Briggs, Evangel Printers, Bucksport, ME

Please reply to Simon Sheers at:
<ssheers at sheergraphics.com>

Sheer Graphics Inc.
47 Chestnut Avenue,
Westmont, IL 60559-1127
Tel: (630) 654-4422
<http://www.sheergraphics.com>
Printing the message . . . and a whole lot more