What’s a 1099?

If you hire a self-employed person to work for your business and pay them $600 or more in non-employee compensation during the year, you need to complete a 1099-NEC form.

There are also other types of 1099 forms that are used to report income from interest, dividends, government payments and more.

All new contractors must complete and sign out he W9 form.

Send to you accountant the W9 forms with the total payments made to each contractor.


What are the IRS deadlines for getting 1099s done?

January 31 is the IRS deadline to file 1099-NEC forms that include non-employee compensation recorded in Box 1. This deadline applies whether you choose to e-file or mail copies to the IRS.

January 31 is also the IRS deadline to mail copies to your contractors for both 1099 NEC & MISC forms.

Feb 15 1099 MISC (boxes 8 or 10) due to recipients.

Feb 28 is the deadline to file 1099-MISC forms when submitting via paper.

March 31 is the deadline to file 1099-MISC forms when submitting electronically.


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mgservicesusaWhat’s a 1099?

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