Episode 27: Ask the Experts, Volume 2

It's another Ask the Experts feature. The questions addressed this time:--What if you have to re-issue a check to the payee because they lost it, and it's the next year? Do you need to correct anything or issue new 1099s?--Is a collection agency associated with a medical facility providing a "medical service" reportable on 1099-MISC (box 6)--Is a non-cash amount, such as a book, given to a contractor considered contract labor?--How do you handle a legal settlement where interest payments are involved?As always, we are sponsored by IOFM, the Institute of Finance and Management. www.iofm.com