Tax Help Blog


Tax blog posts, news, videos and more from our team of experts!
Ask a Tax Expert

Form 1099 Questions

Nov 24, 2009

Q: I hired several independent contractors during 2009. Do I have to send 1099s to all of them next year? When are the 1099s due and where can I get the forms?

 

A: You must issue a Form 1099-MISC to any individual you paid $600 or more during the year.
In most circumstances, you don’t have to issue a 1099-MISC to a corporation. The 1099-MISC forms that you mail to contractors must be postmarked by Feb. 1, 2010 (since the standard deadline of Jan. 31 falls on a Sunday).

In addition you must send a copy of each 1099-MISC you issue to the IRS. And you need to complete Form 1096, Annual Summary and Transmittal of U.S. Information Returns. This form must accompany the 1099 copies that you send to the IRS. Form 1096 is due by March 1, 2010 (since the standard deadline of Feb. 28 falls on a Sunday).

You can get all of the forms you need by visiting your local IRS office or calling the IRS at 800-829-3676. For more information, visti www.irs.gov.

NASE Social Media

res-footer-facebook res-footer-twitter res-footer-linkedin

res-footer-blog res-footer-huffpost res-footer-youtube

Related News...

How To Qualify For Social Security Disability Benefits If You Are Self-Employed
If you are self-employed, you own your own business or you do gig work or freelance. You pay in taxes, but you do not have an employer who makes deductions from your paychecks. If you are self-employed and you are disabled because of a medical condition, you may qualify for disability benefits from the Social Security Administration (SSA). This is a rundown of how you can qualify for disability benefits if you are self-employed.
Posted on Dec 16, 2020
Ask the Expert - Added Expenses on Extended Tax Return
Question: I extended my tax return that is now due on October 15th. I just discovered that I left off some expenses from the previous year that I should have included. Can I include those amounts on this tax return or on next year’s tax return, or have I lost the benefit of those expenses?
Posted on Sep 13, 2019
Tax Preparation for the Small Business Owner
At The National Association for the Self-Employed, we know that tax season can be a hassle for independent contractors, freelancers, and small business owners. You don’t usually have the resources to hire seasoned accountants, so you end up taking precious time out of your busy day to do it yourself. But never fear, NASE is here to guide you and your small business through the process with the essential knowledge you’ll need to navigate your 2018 Tax Year.
Posted on Feb 25, 2019
Want to see more news items?  Click here  

Related Videos...

Are Quarterly Estimated Tax Payments Really Needed?
Find out more about quarterly estimated tax payments. How much should my quarterly payment be and what happens if I do not make payments? What are a 3 safe harbors to help you avoid penalties? Always remember, do not pay in more taxes than you have to.
Posted on Jan 10, 2018 by Katie Vlietstra
How to Deduct the Business Use of Your Vehicle
Will you be prepared at the end of the year to take your vehicle tax deduction? Are you keeping a mileage log in case of audit?
Posted on Jan 10, 2018
Self Employment Tax
As a self-employed business owner, you are the employee and the company. Make sure that self-employment tax is part of your business plan.
Posted on Jan 10, 2018
Want to see more related videos?  Click here  

Still Have Questions?

Ask The Expert

Courtesy of NASE.org
https://www.nase.org/business-help/get-help/tax/tax-blog/tax-talk/2009/11/24/Form_1099_Questions