from the Equine Tax Group

Newtown, PA — Larry Rosenblum, President of the Equine Tax Group, today reminded horsepersons that there is a new question on 2011 tax returns that asks “Did you make any payments in 2011 that would require you to file Form(s) 1099?”

Rosenblum noted, “Accountants are required to give the right answers so there is no wiggle room here. If you have to give a no answer here you almost assure yourself of an IRS inquiry.”

He went on to state “Get those social security numbers of people you paid over $600 on Form W-9, and have your accountant issue 1099s and avoid a lot of problems. The IRS is in crackdown mode.”

Horsepersons with questions can call the IRS at 800.829.1040 or simply call The Equine Tax Group at 888.338.2999.

“We can even show people how to issue their 1009s online themselves at a cost of under $5 each and have proof they did things on time,” Rosenblum stated.

The deadline for issuing 1099s is Jan. 31.