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1099 processing

Its that time of year for 1099 processing again get ready now let us help!

Form 1099-MISC, Miscellaneous Income

File this form for each person to whom you have paid during the year:

  • at least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest;
  • at least $600 in:
  •  rents;
  • services performed by someone who is not your employee;
  • prizes and awards;
  • other income payments;
  • medical and health care payments;
  • crop insurance proceeds;
  • cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish
  • generally, the cash paid from a notional principal contract to an individual, partnership, or estate
  • payments to an attorney; or
  • any fishing boat proceeds,

In addition, use this form to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment.

https://www.irs.gov/uac/about-form-1099misc

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