Preparing and filing 1099s is one of those IRS requirements that can really annoy accounting teams, requiring far more hours and effort than they can afford to give to such a mundane task. While there probably aren’t quite 1,099 hassles to 1099 preparation, it certainly can feel like it when you’re scrambling to get them all prepared and filed on time.
The many challenges associated with 1099s include:
- Identifying contractors
- Collecting W-9s
- Avoiding errors
- Meeting deadlines
