1099 reporting for LLC S-corporation

February 22, 2021

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Q. I have a question regarding 1099 liability for an LLC S-Corp. I need to get clarification if they should be issued a 1099. A. (Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.) Both S and C corporations, including LLCs that have elected S or C status, can be given the corporate exemption to reporting as long as they are not…

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