What is due 1/31/2014? 1099′s & W-2’s for Household Employees

Does your business need to issue 1099’s?
When payments are made in the course of your trade or business totaling $600 or more to an entity other than a corporation for services and certain other payments, your business is required to issue 1099’s to the recipient by January 31, 2014 and furnish a copy to the IRS by February 28, 2014.

Do you need to issue W-2’s for household help?
If you paid a household employee more than $1,800, you are responsible to pay employment taxes and issue a W-2 for each employee. These forms are due January 31, 2014 to the employee and February 28, 2014 to the Social Security Administration. Household employees can include housekeepers, maids, babysitters, gardeners and others who work in or around your personal residence.

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