SCORE Tax Tip for Small Businesses
By Roslyn Banks, SCORE Williamsburg
Be sure to double check your 1099s before you prepare your return. If you receive a Form 1099 with an error, gather evidence to support the correction and ask the vendor to file a corrected form. If unsuccessful talking to the issuer, contact the IRS to inform them of the failure to correct your information. If a correction is on the way, you may file a tax extension. Remember to pay any tax owed by the original due date. Here is a link IRS resources for small businesses: https://www.irs.gov/businesses/small-businesses-self-employed
For updates and free expert guidance on navigating these and other small business challenges, visit SCORE at https://www.score.org/williamsburg.
