Miscellaneous Information Forms
(1099-MISC)
What is a 1099-MISC?
The 1099-MISC is the form used by the IRS to report rents, royalties, or other form of income that is not nonemployee compensation.
Do I Need To Issue A 1099-MISC?
1099 MISC reporting includes many different payment types to individuals in partnerships or those operating under an LLC which is treated as a partnership or sole proprietorship. This also applies to any broker payments in lieu of dividends for tax-exempt interest, as well as royalties, paid in the amount of $10 or more during the year. Medical and health care payments, as well as some attorney fees also require 1099- MISC reporting.
Official publication link – general instructions
Miscellaneous Information Form
Filing A Past Year 1099-MISC Form?
Need to report rents, royalties, or other miscellaneous income? No problem! Our online 1099-MISC information reporting service allows you to instantly create recipient copies and e-file forms – even from past years.
Simply click “start filing” to create a new account, or “login” to access your existing account. Once you’re logged in, create a New Company, and enter the tax year for which you want to file, along with the company issuing the form.
*If you are trying to create a previous year file for a 1099-NEC that is prior to 2020, you must use the 1099-MISC form. The 1099-NEC form did not exist prior to Tax Season 2020.
Next, enter the form data, checkout, create and mail your recipient copies – and you’re done!
WageFiling provides easy solutions for creating and filing corrections for 1099 Forms. If your company needs to make any corrections, we have you covered!
Take a look at the common errors below to identify which type of error was made, and how to correct. You can file corrections through us even if you filed in the past or with another company.
There Are 2 Common Error Types
Type 1 and Type 2 as defined by the IRS. Let’s determine what type of correction you need to file.
Type 1 errors are straight forward. Usually, these errors include the wrong money amount being entered or money being reported that should not have been reported.
To correct this type of error only requires one form or entry into Wagefiling. It’s important to always create a new file, enter the correct data, whether that is an adjusted amount or a $0.00 and put an X in the correction box. Pay for the file, print it out and get it to the recipient – we take care of the rest.
Type 2 errors get a little more complicated, but they usually involve a wrong name or TIN (EIN or SSN) but can also include the wrong amount.
To correct this type of error you must create 2 entries in Wagefiling. Again, create a new file and enter the wrong information that was originally reported, put a zero ($0.00) in the money box and put an X in the correction box-this “unfiles” the wrong information. Then create a new entry with all the right information. Pay for the file, print out the form and get it to the recipient – we take care of the rest.
Once you know what type of error you need to correct our program makes it easy!
Ready to get started?
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– The Payee is the person, estate, trust, or other entity who received the money. The payee is also sometimes called the recipient or employee.
– e-Filing or electronic filing, means sending a copy of Form 1099 or W-2 to the IRS in a formless way using electronic transfer. Transmittal Forms 1096 or W-3 is never needed when e-Filing.