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1099 Filing Requirements

Businesses should issue a Form 1099-MISC to appropriate vendors (non-corporate) to whom they paid more than $600 for services during a calendar year. The Form should be provided to the vendor by January 31st and should be mailed to the IRS (along with Form 1096) by February 28th 2012. If you are electronically filing form 1099, then last date to submit form to IRS is April 2nd 2012

A non-corporate entity includes individual sole proprietorship, partnership or limited liability company (LLC). Additionally a Form 1099-MISC is required for services paid to attorneys regardless of their entity type.

Examples of payments that might require a 1099-MISC would be rents, attorney fees, contract labor, director fees, commissions, royalties (when payments exceed $10) and any compensation not included on W-2.

A business should use form 1099-misc to report any payments they have made in the course of their business. A 1099 misc form is issued by businesses to individuals/ independent contractors to whom they have paid $600 and more. If you are unsure weather you are legible to file form 1099 misc or which 1099 form should you file, contact 1099online.com an IRS certified efile provider to efile your 1099 forms and answer your queries on 1099 form filing.