New Regulations for Landlords for 2011
New regulations will be requiring tax payers to issue 1099 forms that have not done it in the past. Who falls into this new rule? Well, every landlord – if you are paying someone more than $600 a year. In simple terms, if you have a rental and you call a plumber and you pay the plumber $600 to fix the sink at your rental, you will be responsible to send that person a 1099 form. If the plumber only charges you $590 to fix the sink, you’re off the hook, well unless you call him later for a broken pipe, which then the plumbers’ bill will more than likely be over $600 for the year. This is going to require a lot of organization on the general tax payers side. But, luckily, with E-File Magic’s help, once you’re ready to send all the required 1099s you can easily download the software, use Excel or input the recipients information and have E-File Magic print and mail the 1099s for you. And all for a very small fee!
Download and get familiar with E-File Magic 1099 software today!