The IRS form 1099 is sent to taxpayers who receive income other than wages (so, payments from community associations would apply). The types of vendors who are reportable include:
- Individuals / Independent Contractors
- Sole Proprietors
- Partnerships
- Limited liability companies (corporations excluded)
- Trusts and Estates
The IRS requires that eligible vendors be presented with a single 1099 Form for the year on behalf of the community association, and then that the community association file a Form 1096 with the IRS. This can be important to understand if your management company took over a contract during the year. We need a Vendor 1099 report (a YTD AP Ledger will suffice if they cannot provide one) to be able to glean the activity to add it to what is in CiraBooks for each qualifying vendor and produce an accurate filing on behalf of the community.
Need Assistance?
Please contact our AP Hotline at 972-380-3530 at 855-877-CIRA (2472), Option 3
Alternatively, you may send an email to accountspayable@ciramail.com for Matters relating to community accounts payable and vendors, including vendor invoices, check research, EFT matters, 1096 & 1099 matters unless there is a question about charges which should be discussed with branch leadership and corporate accounting.