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A 1099 tax form is a statement that details an amount of money that you were paid. Learn about this important tax document and the different 1099 versions.
Taxpayers are usually not required to attach Form 1099s to their own Federal income tax returns unless the Form 1099 includes a report for Federal income tax withheld by the payer from the related payments. The issuance or non-issuance of a Form 1099 in a particular case is not determinative of the tax treatment required of the payee.
Streamline tax season by deciding how you will complete and send 1099s to your contractors.
There are also many forms used to report non-wage income, and to report transactions that may entitle a taxpayer to take a credit on an individual tax return. These non-wage forms are the Forms 1099 (of which there are 16 types), Forms 1098 (of which there are four types), and Forms 5498 (of which there are three types).
Information returns are reports used to transmit information about income, receipts or other matters that may affect tax liabilities. For example, Form W-2 and Form 1099 are used to report on the amount of income that an employer, independent contractor, broker, or other payer pays to a taxpayer.
While payroll employees of a company receive a W-2 form, anyone who works for themselves on a regular basis typically receives a 1099 tax form -- and if they work for several entities, they may ...
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