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The document is a report form for independent contractors, known as DE 542, which must be completed by businesses or government entities (service-recipients) that hire independent contractors (service-providers) and pay them $600 or more. It outlines the required information to be reported, including personal details of both parties, contract dates, and amounts. The form must be submitted to the Employment Development Department (EDD) within 20 days of payment or contract initiation. Instructions for completion and submission methods are also provided.

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How do I file as an independent contractor in California?

As a contractor, it's your responsibility to complete Form W-9 (Request for Taxpayer Identification Number and Certification), which you should provide to the company that issued the form \u2013 not to the IRS. As an independent contractor, you will also be responsible for meeting the IRS' self-employment tax requirements.

Do I need an EIN for 1099 employees?

Yes, independent contractors can get an EIN, but it's not required. According to the IRS, independent contractors are considered self-employed and are a type of sole proprietorship. Some sole proprietorships (like those with employees, for example) must get an EIN. For independent contractors, however, it's optional.

How do I report DE 542?

How to Report Download a fill-in DE 542 (PDF) form. Order the DE 542 form from our Online Forms and Publications. Use the DE 542 Print Specifications (PDF) to generate an alternate form. Call the Taxpayer Assistance Center at 1-888-745-3886 to obtain a form. Create your own form with all of the required information.

What paperwork do you need for a 1099 employee?

Before you hire an independent contractor, you need to have three important documents: A W-9 form with the person's contact information and taxpayer ID number, A resume to verify the person's qualifications, and. A written contract showing the details of the agreement between you and the independent contractor.

How do I file de 542 online?

0:18 3:18 I Want to File a Report of Independent Contractor(s) (DE 542 ... - YouTube YouTube Start of suggested clip End of suggested clip For business homepage select the employment tax link select the show all link next to the i-12. MenuMoreFor business homepage select the employment tax link select the show all link next to the i-12. Menu. Select the file report of independent contractors link this opens a new tab.

What forms are needed for a 1099 employee?

Beginning with Tax Year 2020, you must use Form 1099-NEC, Nonemployee Compensation, to report payments of nonemployee compensation (NEC) previously reported in box 7 on Form 1099-MISC. The separate instructions for filers/issuers for Form 1099-NEC are available in the Instructions for Forms 1099-MISC and 1099-NECPDF.

Which 1099 form do I need for independent contractors?

You are required to file a federal Nonemployee Compensation (Form 1099-NEC) or a Miscellaneous Information (Form 1099-MISC) for the services performed by the independent contractor. You pay the independent contractor $600 or more or enter into a contract for $600 or more.

What is the new law in California regarding independent contractors?

Gavin Newsom signed new state legislation, Assembly Bill 5 (AB5), into law. Effective January 1, 2020, AB5 affects independent contractors throughout California, radically changing 30 years of worker classification and reclassifying millions as employees.

How do independent contractors pay taxes in California?

SE taxes are reported using Schedule SE (Self-Employment Tax), which should be attached to your income tax return. Note that the Social Security tax rate is currently 15.3% (2.9% for Medicare, plus 12.4% for Social Security).

Are 1099s reported to EDD?

You must report independent contractor information to the EDD within 20 days of either making payments totaling $600 or more or entering into a contract for $600 or more with an independent contractor in any calendar year, whichever is earlier.

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