RELATED IDEAS
1099 Code for Credit Card Vendors
More and more vendors are now accepting/requesting credit card payments. For example we currently use our American Express each month to pay two different compliance companies. At the end of the year we should 1099 them. We are having to track and create these 1099's manually now. As we have more and more vendors who wish to be paid this way the manual option has greater room for error. If we could split off when entering the credit card this would remove the risk for omission.
you may want to check with the IRS >> You're not required to send a 1099 form to contractors or vendors if you paid them via a credit card. In these cases, the filing requirement is not on you but on the payment processor (for example, your credit card company), which is the origin of the payment.