How to Send a 1099 MISC
The Internal Revenue Service requires everyone who paid another for subcontract work to file a 1099-MISC no later than Jan. 31 of the following tax year to the contractor and no later than Feb. 28 to the IRS. If you aren't sure whether or not you are required to file a 1099-MISC, you can easily determine whether or not you should by reviewing the IRS' 1099-MISC instructions. Amounts for each type of payment you made are provided, as well as information regarding when and where to file.
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Instructions
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Obtain the Social Security number or federal tax identification number of the subcontractor you paid for service. You'll need this, as well as the name and address of the subcontractor.
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Use the line-by-line instructions provided on your 1099-MISC forms to determine which box(es) you need to fill out and what information goes where. Note if any taxes were withheld. The way you fill out the 1099 you are filing depends on the type of payments you made.
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Mail Copy A of the 1099-MISC to the IRS no later than Feb. 28 to the address listed on page four of the 1099-MISC instructions. There are two addresses to which 1099-MISC forms are mailed, which are divided up by state. Mail your subcontractor his copies, Copy 1, Copy 2 and Copy B, no later than Jan. 31. Keep Copy C for your records.
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References
- Photo Credit A businessman calculating expenses at tax time image by Christopher Meder from Fotolia.com
