Ok then yes each recipient should fill out a w9 (down load from irs) and then next Jan a 1099 should be issued.
On Thu, Mar 21, 2024, 1:38 PM Virginia Varland <[email protected]> wrote: > To clarify, this event is upcoming. We have not yet paid our talent, but > multiple individuals will receive an amount greater than $600. > > Virginia Varland > [email protected] > > > > On Thu, Mar 21, 2024 at 1:35 PM Mary Collins <[email protected]> wrote: > >> As an organizer, caller, Bookkeeper and tax filier this is correct...if >> you paid an individual $600 or more during the year. If it was a band that >> disbursed monies less than $600 each then no. >> >> The 1099's were due Jan 31, so get this done asap. >> >> There is also a new "gig worker" deduction for those earning over $250 >> from one organization as well for those of us that call or play. >> >> Mary Collins >> >> On Thu, Mar 21, 2024, 1:23 PM Virginia Varland via Organizers < >> [email protected]> wrote: >> >>> Hi all, >>> >>> I’m a new treasurer for an organization that is preparing to hold it’s >>> first weekend since before the pandemic. We are a registered 501c3 >>> non-profit operating at less than 50K per year. We will be paying our >>> talent more than the threshold for filing 1099’s ($600+), thus it is my >>> understanding that we’ll need to get our talent to fill out W9s and send >>> them 1099s for their 2024 taxes. Past treasurers do not recall filing >>> 1099s for weekend talent in the past, however rates have gone up and the >>> threshold for filing has gone down. >>> >>> Can an presently active/experienced treasurer confirm or correct my >>> understanding of this situation and give any insight to the process, >>> please? Also interested to hear experiences of talent who have had to file >>> 1099s for earnings. >>> >>> Many advance thanks for any light you can shed on this. >>> >>> Best, >>> Virginia >>> Virginia Varland >>> [email protected] >>> >>> _______________________________________________ >>> Organizers mailing list -- [email protected] >>> To unsubscribe send an email to [email protected] >>> >>
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