Who Should Receive Form 1099-MISC

Every business must file form 1099-MISC when it has made payments to non-corporate entities for the following:

-Rents*

-Services (including parts and materials) of non-employees*

-Prizes and Awards*

-Medical and healthcare payments*

-Royalties or Broker payments in lieu of dividends

-Cash purchase of fish from anyone engaged in fishing*

-Gross Proceeds paid to an attorney*

-Direct sales of goods of at least $5,000 to a buyer for resale

 EXCEPTIONS: -Payments to corporate payees (except attorney fees)

-Items above shown with an asterisk (*), if paid less than $600

-Payments of less than $10 for Royalties or Broker payments
 
 

 REMINDER:

Forms 1099-MISC are due to payees by January 31st;

and to the IRS (along with form 1096) by February 28th.

This is a partial list, please contact us for more detailed information.

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Call Us for Additional Information at (310) 444-3041