What is it?
Who Are Required to File 1099-MISC Forms?
Where Should 1099-MISC Forms be Filed?
When Should 1099-MISC Forms be Filed?
Why File 1099-MISC Forms?
A 1099-MISC form is similar to the W-2 form which is being filed by employees. However, a 1099-MISC form must be filed by an independent contractor and completed for non-employees that are getting paid $600 or more, annually.
Non-employees or independent workers, include but not limited to:
- Web developers
- Graphic designers
- Freelance writers
- Cleaning professionals
- Landscaping professionals
- Self-employed individuals
Types of Payments Also Covered by the 1099-MISC:
- Royalties with a minimum of $10 (including payments to authors, musicians and artists)
- Broker payments instead of dividends or tax-exempt interest, with a minimum of $10.
- Office space and machine rentals
- Prizes and awards received
- Services, inclusive of parts and materials used
- Fees for medical and health care
- Payments made in cash to fishermen
- Proceeds from crop insurance
- Attorneys fees