How to File a 1099 Misc Online? (2020)

Posted by Linda on December 11th, 2019

Before going deep into the topic of how to file 1099 misc, it’s essential to know what form 1099 is. It is tax forms used in the US for preparing and filing an information return for reporting different types of income different from salaries, wages, and tips.

Who can get a 1099?

All the contractors who have worked more than 0 for the business can get a 1099.

Who can fill out a form?

If any business has hired the contractor and they have paid them more than 0 in a year, then it is necessary to issue a 1099-MISC. 1099 form incorporates different types of form variants like 1099-A, 1099 B, 1099-DIV, 1099-LTC, 1099-G, 1099 MISC, 1099-SA, 1099-Q, 1099-OID, and so on.

Here, among these variants, we will discuss 1099 misc in a detailed manner.

What is 1099 Misc Form?

It is the version of form 1099 which informs the Internal Revenue Service (IRS) when you have paid an independent contractor for more than 0. In case you have paid more than 0 to an independent contractor or other self-employed as compensation, fees, real estate rent, awards, and prizes, it will be recorded in the form. The information added in the form is used by the IRS for the verification of your income.

Now, let’s discuss different copies of form 1099-MISC.

Form 1099-MISC copies

The given copies list will go to the IRS, contractor, or it will be with you.

Here you will come to know the receiver of each copy of Form 1099-MISC:

• Copy A: You have to send this copy to the Internal Revenue Service, with Form 1096.
• Copy B: You have to send Copy B to the independent contractor.
• Copy C: Save this copy with your records.
• Copy 1: Send Copy 1 to the state tax department.
• Copy 2: Forward the copy to the independent contractor.

Furthermore, you need to collect the necessary information.

How to File a 1099 misc?

You have to follow these points while filing 1099 misc:

• Collect the essential information

You need to have this information for each independent contractor:

• His/her address
• Their legal name
• The amount you paid them during the tax year
• Taxpayer identification number

• Submit Copy A to the IRS

It is a must to submit a Copy A Form of 1099-MISC to the IRS by January 31 2019, regardless of whether you file electronically or via mail.

• Submit Copy B to your independent contractor

After completing Form 1099-MISC, send Copy B to the independent contractors. Keep in mind to send it before January 31, 2019.

• Submit 1096 form

To file a copy of form 109-MISC, you first need to copy A to the IRS. after that, you also require to finish and file form 1096. Since the IRS utilizes the form 1096 in tracking physical 1099

• Submit 1099 forms with your state

You have to file 1099 forms as per your state.

These steps will give you the right steps of filing 1099 misc.

Conclusion

So far, we have discussed what is form 1099, who can fill 1099 form, what is form 1099 misc form, and how to file a 1099 misc. With these information, hopefully, you have got a better understanding of how to file a 1099 misc.

Further, if you feel to ask any query related to how to file 1099 misc, then you can dial the Support Phone Number 1-877-263-2742. You can also give a call on the phone number in case you want to acquire knowledge about how to file 1099 misc with irs.

Reference Source: https://medium.com/@johntrump524/how-to-file-a-1099-misc-online-2020-355d54ba8d5d