Fiscal Year Memo 2025-08: Form 1099 Guidance/Issuing and Filing IRS Forms 1099 for Tax Year 2024
This memo provides guidance to departments about their responsibilities in issuing and filing tax reporting information, and outlines actions that are taken by the Office of the Comptroller (CTR) for Federal Income Tax reporting to the Internal Revenue Service (IRS), Social Security Administration (SSA), and for State Income Tax reporting to the Department of Revenue (DOR) for all Form 1099 reportable payments made from MMARS. This information should be shared with relevant staff in your department.
The deadline for depositing returned vendor checks into the department sweep account is Tuesday, December 31, 2024. All Expenditure Refunds (ER) and Cash Receipts (CR) must be processed by Friday, January 3, 2025 to correctly report vendor payments on the Form 1099 for Tax Year 2024.