Early next year, your business may be required to comply with Form 1099 rules. You may have to send forms to independent contractors, vendors and others whom you pay nonemployee compensation, as well as file them with the IRS. There are penalties for noncompliance. Employers must provide a Form 1099-MISC for nonemployee compensation by Jan. 31, 2020, to each noncorporate service provider who was paid at least $600 for services during 2019. (1099-MISCs generally don’t have to be provided to corporate service providers.) A copy of each Form 1099-MISC with payments listed in box 7 must also be filed with the IRS by Jan. 31. If you have questions about your reporting requirements, contact us.