I hope all is well with you, Randy. I'm glad that my colleague answered your queries directly. Allow me to clarify your follow-up inquiry about filing the corrected 1099.
QuickBooks Online is designed to comply with IRS regulations. As a result, the system generates 1099 forms only for vendors whose total payments meet or exceed the $600 threshold.
With the workaround provided above, you can still achieve your goal. Once you manually submit your 1099 forms to the IRS, you'll need to follow the same process if corrections are required.
Furthermore, you can consult a tax professional or accountant for more in-depth guidance and information on adhering to IRS guidelines.
To stay compliant, you can check out these resources that provide comprehensive information on tax regulations, filing requirements, and other essential policies:
For future reference, if you want to examine your business's finances closely, you can run a payroll report. It will provide a detailed summary of your company's payroll expenses, including employee salaries, bonuses, taxes, and other related costs.
I appreciate your attention to these matters, especially after your recent questions. If you have any more queries or need further assistance with the 1099 filing process, I'm here to help. Let's make sure everything goes smoothly, Randy.
