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Who Needs to Get a 1099 Form?

Anyone your business paid $600 or more in non-employee compensation over the year must be issued a Form 1099-MISC. According to IRS guidance, a form 1099-MISC may be required if a company makes the following types of payments: At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest.

Who is required to receive a 1099?

If you have not received an expected 1099 by a few days after that, contact the payer. If you still do not get the form by February 15, call the IRS for help at 1-800- 829-1040. In some cases, you may obtain the information that would be on the 1099 from other sources.

What is a 1099 form used for?

A "1099 employee" is a misnomer employers use to describe independent contractors. While the term has been coined by many and is commonly used by small business owners, the Internal Revenue Service ("IRS") generally refers to these workers as nonemployees.

Who Needs to Get a 1099 Form?

Anyone your business paid $600 or more in non-employee compensation over the year must be issued a Form 1099-MISC. According to IRS guidance, a form 1099-MISC may be required if a company makes the following types of payments: At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest.

What Is the 1099 Form Used for?

The 1099 form is a series of documents the Internal Revenue Service (IRS) refers to as "information returns." There are a number of different 1099 forms that report various types of payments you may receive throughout the year other than what a business might pay you.

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