You Also Need a Form 1096
In addition to the 1099 forms sent bent each contractor, you ought to also file a Form 1096. this type simply sums up the totals from all of your 1099 MISC and is what you'll send to the IRS with each 1099 MISC. You'll also want to stay a replica for your records.
Stay On It
Now that you simply know the ins and outs of who needs a 1099 and the way to issue one, you would like to form it a priority to urge them done and on time. Not issuing a 1099 MISC may result in hefty penalties. confirm you've got contractors fill out a W9 from the beginning and be meticulous about getting those 1099 forms out and postmarked no later than January 31st. the method may be a piece of cake as long as you follow the rules . Make your own 1099 using our form generator.
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