PE GI Journal October 2020

Page 8

Tackling How preparation makes 1099 reporting for vendor payments run smoother By Kelly Smola

6 PE GI Journal October 2020

1099s

E

very January, the IRS requires all companies, including GI practices and ambulatory surgery centers (ASCs), to report certain types of vendor payments that were made in the company’s course of business. Reporting is accomplished by filing either IRS Form 1099-MISC or (starting with

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