1099 suppliers in AP

what is 1099 suppliers ? Why in AP, few suppliers are segregating to 1099 suppliers?
Thanks
prasad.

Prasad,
1099s are a United State thing, to report payments made to inincorporated suppliers to the US Federal Government. The government then checks that against the supplier's tax return to make sure the supplier has fully reported all his income on his tax return. Normally you will have a minority of suppliers who are not incorporated. This is why you will only have a small number of suppliers that you have to file 1099 forms for. The US Federal Government (IRS) has set up the rules on what suppliers you need to file 1099s for. For more information, talk to the person in accounting who files the 1099 returns with the US Federal government.
John Dickey
Edited by: John Dickey, McCarthy on Feb 26, 2010 2:38 PM

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============================================================
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1099 suppliers in AP

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