Can I File a 1099 Form for Payments Made to an Independent Consultant?
Yes, you can file a 1099 form for payments that you make to your independent consultants. The slightly different title does not prevent employers from using the form. The main difference with a contractor and consultant is that an “independent contractor” is a legal umbrella term. Whereas, an independent consultant is a non-legal classification for […]
Can I File a 1099 Form for Payments Made to a Vendor?
Simply put, sometimes. The Internal Revenue Service does not require businesses to report all payments that you make to an independent contractor with a 1099. Make sure you know when to report your payments using the form to avoid any unnecessary complications for the business and your hired contractors. Use a Form 1099-MISC or Form […]
Can I File a 1099 Form for Payments Made to a Marketing Agency?
Yes, you oftentimes should file a 1099 form for payments that you make to a marketing agency. There are times when the Internal Revenue Service will not object to you not issuing the Form 1099-MISC or Form 1099-NEC. Complete a Form 1099-NEC for marketing contractors that provided you with services during a tax year that […]
Can I File a 1099 Form for Payments Made to a Gig Worker?
Yes, you can file a 1099 form for payments you make to a gig worker. Understand the correct 1099 form to use for the reporting season and type of worker. An important 1099 form to know about is called Form 1099-K. Use the form starting in January of 2024 for the gig workers that you […]
Can I File a 1099 Form for Payments Made to an S-Corporation?
No, you should not file a 1099 form for payments made to an S-Corporation. You typically do not send a 1099 form to an S-Corporation or C-Corporation, because the Internal Revenue Service regards corporations as separate legal entities. Employers only issue 1099 forms to report some types of income. The reported income should be what […]
Can I File a 1099 Form for a Deceased Person?
Yes, employers should file a 1099 form for a deceased individual who died during the year. Use a Form 1099-MISC to report any payment owed to their estate or beneficiary. You should report the payment regardless of whether you made it in the year of their death or the following year. Report payments for a […]
How Do I Report Income from a Lease Agreement on a 1099 Form?
Specific scenarios in the real estate industry and property management dictate which forms you must file and when you need to file them. Landlords and property management companies must fulfill their own unique steps when they report income from a lease agreement on a 1099 form. Landlords – Distribute W-9 forms to your commercial tenants […]
How Do I Report Income from a Copyright on a 1099 Form?
Individuals who earn income from a copyright often report their royalties on a Form 1099-MISC. File the form for each individual that you paid $10 or more in royalties during the tax year. Check first whether you need to report royalty payments as business revenue or instead as investment income. You will probably classify a […]
Can I File a 1099 Form for Payments Made to a Freelance Writer?
Yes, you must report non-employee compensation if you paid a freelance writer $600 or more in a specific tax year. Use Form 1099-NEC to report the payment figure made to a freelance writer. Send copies of the completed form to the Internal Revenue Service and a relevant independent contractor by January 31 of the following […]
Can I File a 1099 Form for Payments Made to a Foreign Person?
The general answer is no, but the question is technically open to more than one interpretation. A foreign independent contractor is not a 1099 worker in most circumstances. These international workers may provide specific talents at a more affordable price than hiring a full-time employee. Keep in mind that “1099” is the Internal Revenue Service’s […]