When I give my contractors a 1099-misc., do I have to file a 1096 along with each one or do I file (1) 1096 for all of them with the total dollar amount listed that was paid out?
2007-03-01 08:02:50 · 3 answers · asked by bummy65807 1 in Business & Finance ➔ Taxes ➔ United States
If you paid someone $600 or more, you should have given them a form 1099 by January 31st.
Form 1096 was due yesterday. That's the form that goes to the government and is a SUMMARY of all your 1099s. You include a copy of all the 1099s that were sent to your ind. contractors.
2007-03-01 08:08:49 · answer #1 · answered by ? 4 · 1⤊ 0⤋
You file one 1096 with each class of miscellaneous documents prepared. If you file the 1099 information on magnetic media, you don't need to send paper copies to the IRS. If you don't file on magnetic media, you must include the red copy of the 1099s with the 1096.
If you have 50 1099-MISC and 50 1099-INT, you need two 1096s, one for each class of 1099.
2007-03-01 08:09:50 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Its the first time I file this but I did it late, do you know if I am going to have penalty?
2015-03-10 16:32:17 · answer #3 · answered by Trained To Survived Everything 1 · 0⤊ 0⤋