Who Has to File 1099 IRS Form?

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A 1099 form needs to be filed with the IRS by anyone who has been compensated for a job where they were not an employee of the company. Report income from a 1099 to the IRS every tax season with advice from an investment portfolio manager in this free video on tax forms.

Part of the Video Series: Investing & Personal Finance Tips
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Video Transcript

So who has to file a 1099 form? Anyone who has made compensation, done a job for somebody where they were not an employee needs to file a 1099. So if you do work for someone and they compensate you then you need to report that on a 1099 form with the IRA, normal tax filing like everyone else and that needs to be done annually every time you do make employee compensation and that really is the definition. If it is not employee compensation then you do need to file a 1099 form. So hypothetically if I'm setting here and somebody is paying me to speak to you on video and they are paying me money for this work at this time then I need to file a 1099 come tax season and report this income to the IRS. I would be included in that pool of people as nonemployee compensation because I am not an employee of the video company but I will need to file a 1099 to report that compensation on my own.

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