File Current 1099-NEC/Misc Forms
File Current Year 1099-MISC
Ready to report the wages you paid this year to your independent contractors? Skip the forms and software, and file to the IRS using our online service. Just create an account, enter your 1099-NEC/MISC data online, then instantly print IRS approved recipient copies on plain paper – or save as PDF copies. We e-file to the IRS for you – and don’t forget to opt in to our IRS-approved SSN Masking identity protection service.
Before you get started filing, here are some basic reminders:
Do I need to issue a 1099-NEC/MISC?
If you paid a contractor $600 or more to perform work for your business during the calendar year (Jan 1- Dec 31), then yes, the IRS requires you to report that amount paid on a 1099 NEC form. You are required to send the recipient a copy by Jan 31 and file to the IRS by Jan 31 to avoid penalties.
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
What do I need to get started?
You will need your company’s and your contractor’s Name, Address, Tax Identification Number and the amount paid to the contractor. It’s easiest to collect this info by requesting contractors fill out a W-9 form; many companies do this on the outset of hiring a new contractor.
Penalties for Filing Form 1099-MISC Late
These penalties are in effect for the year 2022:
- $50 penalty for wiling a 1099-MISC 30 days or less late
- $110 penalty for filing a 1099-MISC more than 30 days late, and before August 1st
- $270 penalty for filing a 1099-MISC on or after August 1st
- $580 penalty for intentionally failing to file
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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.