Form 1099-MISC, Miscellaneous Income, is used to report payments for services performed for a business by people
not treated as its employees, such as payments to subcontractors, rent payments or prizes. A 1099-MISC form must
be provided to the recipient and a copy mailed to or E-Filed with the IRS.
Who needs to file a Form 1099-MISC?
File Form 1099-MISC, Miscellaneous Income, for each person to whom a payer paid during the year:
- At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest;
- At least $600 in rents, services (including parts and materials), prizes and awards, other income
payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other
aquatic life) you purchase from anyone engaged in the trade or business of catching fish, or, generally,
the cash paid from a notional principal contract to an individual, partnership, or estate;
- Any fishing boat proceeds; or
- Gross proceeds of $600 or more paid to an attorney.
One must also file Form 1099-MISC if direct sales of at least $5,000 of consumer products to a buyer for resale
anywhere other than a permanent retail establishment.
Where do I file a Form 1099-MISC?
If you are filing 250 or more returns you are required to file electronically. The IRS encourages you to file
electronically even if you are filing less than 250 returns. ExpressTaxfilings.com is the easiest - we transmit
it all to the IRS for you! Or, print paper copies and mail them to the IRS and recipient. Find the mailing
address and other detailed Form 1099-MISC information at http://www.irs.gov/pub/irs-pdf/i1099msc.pdf
Form 1099 MISC Due Dates
Form 1099 is due to the IRS by March 31, 2015 when E-Filed. (If you choose to file on paper, the deadline is March
2, 2015). Recipients’ copy must be supplied by February 2, 2015.
You can get more information from IRS directly and from our blog which are updated continually.