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Originally Posted by mch2464 Thank you for your response. That means that my last question is, we get our health insurance through Wellmark and make the payments to them. Do I need to send them a 1099? If so, I haven't yet and what happens since I am late? |
Thank you for your response. That means that my last question is, we get our health insurance through Wellmark and make the payments to them. Do I need to send them a 1099?===>no. The form is for payment for services.
Paying a premium is not a service; 1099's are issued to people who perform services ;also,
if they are incorporated, a 1099 does not have to be issued .As you are paying insurance premiums and although it may seem like it, it is not a service
you are actually paying for protection that may or may not ever happen or be needed
it is merely a expense of your business, providing health care coverage for yopu/ your employees.
If so, I haven't yet and what happens since I am late?====>>>as above.