The Internal Revenue Service is delaying Form 1099 reporting for stock transfers on the exercise of incentive stock options, according to a report in the Kiplinger Tax Letter. Organizations were supposed to start sending the IRS 1099 forms in 2009 for transfers pursuant to options that were exercised in 2008, but the IRS is suspending that rule for one year to give firms time to get their automated systems ready. This means organizations will have to start sending the 1099s in 2010 for options exercised during 2009.
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