This client was hit with a $2.6 million tax bill from the IRS…
All because they didn’t file 1099s for their subcontractors.
Yes, you read that right — $2.6 million!
They were audited and penalized for not reporting their payments correctly. The IRS disallowed ALL their subcontractor expenses and dropped a massive assessment on them.
Thankfully, they came to us just in time.
We stepped in, reconstructed records, filed the missing 1099s, and successfully reduced their liability by over 90%.
But here’s the truth: it could have all been avoided with a few simple steps.
Business owners: if you’re paying contractors YOU MUST issue a 1099.
Don’t let a paperwork mistake cost you your business.
If you’re currently facing an audit, or know someone who is— book a free consultation with them ASAP.
We’ll help you get ahead of the storm before it turns into a disaster.
Learn more about working with us — > https://www.bernicehassancpa.com/services/
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