Form 1099-MISC (2017)

What is the 1099-MISC Form?

A 1099-MISC Form is a federal information return that payers use to report specified payments made during 2017. This form is called to minimize underreporting of self-employed workers. Enter the payer's and recipient's names, addresses, and applicable taxpayer identification numbers.

What I need the 1099-MISC Form for?

1099-MISC Form:

• Is required by the IRS;
• For 2017, report qualifying nonemployee compensation of at least $600 paid to a recipient during the calendar year;
• Report royalties or broker payments in lieu of dividends or tax-exempt interest totaling at least $10.

For 2017, recipient copies were generally due January 31, 2018. IRS filings reporting box 7 payments were due January 31, 2018; other IRS filings were due February 28, 2018 on paper or April 2, 2018 electronically. Time periods of other destinations should also be respected.

Filling out 1099-MISC Form

The 1099-MISC Form collects the basic set of information about the company, including a valid tax ID number, and head office address. Enter the recipient's name, address, and applicable taxpayer identification number. Consult the separate 2017 IRS Instructions for Form 1099-MISC. Every destination must receive a copy of the form within the established period.

Organizations that work with 1099-MISC Form

• IRS (Internal Revenue Service);
• State Tax Department;
• Other required establishments.