Article: Deadlines Approaching For Filing 1099s For Independent Contractors
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Deadlines Approaching For Filing 1099s For Independent Contractors
While the middle of January may seem a bit early to begin
thinking about taxes, 1099-MISC filing deadlines are looming
for businesses. Generally speaking, IRS 1099-MISC is the
form used to report miscellaneous income that you paid to
persons during 2004 in the course of your trade or business.
Does This Apply To My Business?
The 1099-MISC forms must be issued to any person that you
have paid at least $600 in rents, services or other income
payments. Typically, you should issue the form to any
independent contractor that you paid $600 to during 2004.
For example, if you paid a designer $1,500 to build and
maintain a website in 2004 for your business, a 1099-MISC
filing would be required. As with practically any IRS
filing, there...
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