If you paid $600 or more to a non-employee or $10 or more in royalties during the year, you must send that person a 1099-MISC showing the total amount you paid for that year. The 1099-MISC must be submitted to the payee by January 31 of the following year, and it must also be submitted to the IRS by the end of February.
A 1099-MISC form is used to report miscellaneous income to the IRS. This form is used for:
- Income earned by an independent contractor but not an employee
- Fees, commissions, rents, or royalties paid
- Payment for prizes, awards, or legal services
- Excess golden parachute payments
- Medical and health care payments
Pages to 1099-MISC
The 1099-MISC is a multi-part form.
The 1099-MISC is a multi-part form.
- Copy A is submitted to the IRS by the payer
- Copy 1 is submitted to the state tax department by the payer
- Copy B is for the recipient
- Copy 2 is given to the recipient for filing with the state tax return.
- Copy C is kept by the payer.
