This document summarizes how to manage 1099 vendors and the 1099 reporting process. It discusses knowing your vendors, determining who is reportable, using Form W-9 to collect tax identification numbers, and the different 1099 forms (Form 1099-NEC for non-employee compensation and Form 1099-MISC for other reportable payments over $600). It also covers penalties for missing or incorrect tax identification numbers and ways to improve the 1099 reporting process such as regularly reviewing vendor lists and attaching Forms W-9.