You may be most familiar with Form 1099-MISC, which you use when your business makes miscellaneous payments in excess of $600 for services to nonemployees. What are miscellaneous payments? Reportable payments can include fees for services paid to independent contractors, such as consultants, lawyers, and cleaning services. Generally, you don’t report fees paid to corporations, but there are exceptions (payments to lawyers, for example).
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Tags: 1099 filings
Written by: Doug Rodrigues