Stock Sale of Subsidiary to Third Party: What are the Reporting Obligations?
We sold the stock of a subsidiary this year to an unrelated third party. What is our reporting obligation for forms 1099 and 1042 for 2010? Are we required to report from January 1 to the date of sale? It seems that because the EIN of the subsidiary will now belong to the new owner as a result of the stock sale (not an asset sale), that the new owner would be responsible for all 1099 and 1042 filings for the year. If we both file forms for the same company/EIN, won't it create a problem with the IRS? Is this correct or have I missed something?
Payment Involving Hospital and Doctors: Who to 1099?
Several questions on here regarding DBAs and how to report payments made to the DBA. What is your opinion in a case where we are doing business with a hospital that wants us to cut checks in the name of indivisual doctors, but then send the 1099 for the payments made to all those doctors in the name and EIN of the hospital? It is our contention that if we issue a payment to an individual in this case that we must report those payments to the individual's name and SSN. Would you agree? I believe there is a distinction between these situations and true DBA set ups.
Paying Settlement of Property Damages
I am paying a Settlement of Property Damages to the claimant. The Claimant is Incorporated. Do I issue a 1099 reportable?
There are two issues here. . . .
Does Uniform Cleaning and Dry Cleaning Require Payment of Retail Sales Tax?
Is Uniform Cleaning and Dry cleaning taxable? Do I pay retail sales tax? This is NOT a reportable or non-reportable question. This is a retail sales tax question.