Does the IRS Notify You if You Fail to Report a 1099?
Failing to report a 1099 form can have severe consequences, including audits, penalties, and interest charges. The IRS is vigilant in tracking income and discrepancies, and they have systems in place to detect unreported income. IRS Tracking of 1099 Forms Businesses that issue 1099 forms are required to send copies to both the recipient and … Read more