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If all three of us earned money under this 10-99 can I turn around and 10-99 them for the wages that they earned so they can pay their part. Or do I need a tax number or something.

2007-01-29 09:06:00 · 2 answers · asked by luivilla17 2 in Business & Finance Taxes Other - Taxes

2 answers

A 10-99 form is used for independent contractors(non-permanent employees)in lieu of a W-2 form to show money(wages)earned; typically, untaxed. Unless the other workers actually received their money from you, you cannot provide them with a 10-99 form, and will have to settle your tax obligation on your own. A social security number or TIN(tax identification number) are required to file your tax forms. Check out www.irs.gov for more info.

2007-01-29 09:21:33 · answer #1 · answered by Anonymous · 1 0

Are all 3 names on the 1099 ?
If you are transferring $$ for work to other people and it's just cash then ;
You will start having tax and SS payment issues if you list their wages as an expense for your business ,
Or you remain independent contractors.
Sounds like you are overdue for a small business CPA .
Do it now because it will only get wayyyy messier later.

There is business info on the site

http://www.irs.gov/

2007-01-29 17:14:49 · answer #2 · answered by kate 7 · 0 0

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