IMPORTANT JAN TAX DEADLINES
01/20/2020—Annual Colorado Sales Tax Filing
This report is completed online through the Colorado Department of Revenue https://www.colorado.gov/revenueonline/_/#2.
Some schools complete this filing quarterly (this can be changed with the state office).
01/31/2020—IRS 1099-MISC Filing Deadline
Did you have any individual/sole proprietor vendors or contractors in 2019 who were paid $600 or more in the 2019 calendar year?
The 1099-MISC filing requirement applies to any vendors/contractors who were paid $600 or more in the past calendar year (January-December) AND who indicated that they were “individual/sole proprietors or single-member LLC” on their completed W-9 form.
The 1099-MISC is completed from information gathered from vendors/contractors on the IRS W-9 form. Vendors that designate on the W-9 that they are “individual/sole proprietors or single-member LLC” and who earned $600 or more in a calendar year should receive a 1099-MISC by the deadline. The 1099-MISC is also filed with the IRS.
If you did not have any vendors/contractors who fall into this category, you do not need to file the IRS 1099-MISC.
Please be sure to use the 1099-MISC forms for 2019 as the IRS is changing the forms for 2020.
If you have any general questions, please contact Paula Krier, Parents’ Council Treasurer at firstname.lastname@example.org . For specific tax-related questions, please consult a tax professional.