Sole proprietorship changing to an S-Corp

September 17, 2019

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Q. A vendor told us that they recently changed from a Sole Proprietorship to an S-Corp. The EIN is still the same. Do we report the amounts that were paid out under the Sole Proprietor status on a 1099-MISC or is no 1099-MISC necessary now that the company is an S-Corp? A. (Answered by COKALA Tax Information Reporting Solutions, LLC, 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,…

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