1099 form for contract wage?

Question

i paid one contractor, wages,so i have to send him a 1099 form ,right? where do i get one 1099 form to send him.does this have to done by jan 31.

Answer 1

You must mail or hand the 1099 to the contractor by Jan 31st. You must send a copy of the 1099 along with form 1096 to the IRS by February 28th. The copy sent to the IRS MUST be on an approved form. You cannot download it from the internet (although, as one other poster has said, you can order the forms).

Do you have an accountant? That would be the most cost-effective way of doing this. (If it is not the most cost-effective way, you need a new accountant!) If you do all your accounting and taxes yourself, a trip to an office supply store is probably the next-best thing.

Answer 2

You only have to send him a 1099 if you are deducting the payments to him against your taxes. If this is the case, you may want to consult your accountant. You will need to file form 1096 with the IRS to report the income to them and you will need to supply the contractor with form 1099. If the amount you paid him is less than $600, then you do not need to file the forms. Also, if the contractor is a corporation, you do no need to file the forms.

Answer 3

You can order these forms on line at www. irs.gov/forms/pubs or by calling 1-800-829-3676. These forms supposed to mailed to the contractor by Jan 31. Hope this information helps.

Answer 4

1099-misc earnings: you should document your tax go back if your self employed earnings is $four hundred or more suitable. you'll document your earnings and corporation appropriate prices on time table C or C-EZ (style 1040). then you honestly placed information superhighway earnings (or loss) on-line 12 of style 1040. This earnings is concern to SE tax at 15.3% (it is shown on-line fifty seven of style 1040). convinced, you're not any further self employed. yet it is how IRS needs you to document your earnings. Now you should comprehend W2 vs 1099-misc. On W2 the corporation ought to withhold Social safe practices and Medicare taxes. //np On 1099-misc, you will pay 15.3% SE tax fairly of seven.sixty 5% withheld from W2 earnings. for this reason you pay about 7.5% more suitable. the ease of having 1099-misc is that you'll be able to promptly deduct your corporation appropriate prices on time table C or C-EZ. On W2, you are able to take corporation appropriate prices in trouble-free words as itemized deduction

Answer 5

You can buy the forms anywhere and then fill them in,....they are due Feb 28th