Retention requirement for physical 1099s
July 5, 2021
Q. What is the retention schedule for physical copies of issued 1099s? TY2018 and before, forms were printed and mailed. TY2019 to present are done electronically. How many years are forms to be stored, and how?
(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.)
You are required to retain the ability to either (a) provide copies…
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