1099 for health insurance company and restaurants?
Hi, would you send a 1099 to our company's health insurance company (does that count as services?) and restaurants (for IRS purposes, is that a service or product)? Both over $600 in 2010. Thanks!
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01/06/11 8:28am PST
Viewed by asker 01/06/11 11:19am PST
Viewed by asker 01/06/11 11:19am PST
3 Replies
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01/06/11 9:57am PST
The solution
For 2010 NO. Health Insurance and Restaurants are products or Goods purchased.
01/06/11 10:02am PST
Thanks for your quick response. I take it that we don't need to send a 1099-misc or 1042 to foreign service providers (since they probably would need to report that income to their respective countries' tax departments). Am I correct? Thanks again!
01/06/11 11:12am PST
Latest post
1042 is required if you are a withholding agent or intermediary who receives,controls,has custody of, disposes of or pays any fixed or determinable annual or periodical income. You can go to the IRS.gov web site and type in 1099-Misc. to see the instructions as well as the 1042. You will have your answers.
