IRS Year-End Information Return Workshop (Forms 1099 & 1096). Presented by Mary Jo Audette Judy Pearson. What is a 1099 MISC Form?. A form used to report payments made by your tribe or tribal entity to non-employee workers, vendors, independent contractors, businesses and other payees.
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Mary Jo Audette
A form used to report payments made by your tribe or tribal entity to non-employee workers, vendors, independent contractors, businesses and other payees
(Rents paid to corporations or real estate agents do not have to be reported on a Form 1099 MISC.)
per year that are NOT for services
If the prizes and drawings involved a wager (e.g. the winner had to buy a ticket to be eligible to win - raffles), that payment may be reportable on a different form—Form W-2G.
See Pub 3908, Gaming Tax Law for Indian Tribal Governments, for additional information on reporting and withholding requirements
Use Form W-9.
CAUTION are incorporated, tax exempt or a governmental entity:
An LLC (limited liability company) may or may not be a corporation. An LLC is asked to designate its appropriate tax classification on Form W-9.
If the LLC has not marked a “C” or “S” after the LLC designation on Form W-9, and the payments to the LLC fit all the other criteria of who should get a Form 1099, a Form 1099 MISC should be filed.
Box 7: “Nonemployee compensation”
Box 7, “Nonemployee compensation”
However, report in Box 14, “Gross proceeds paid to an attorney”, payments made to an attorney, such as in a settlement agreement, where the attorney’s fees cannot be separated or identified from the total amount paid (gross proceeds).
Box 1, “Rents”.
Box 3, “Other Income”
(Also include in Box 3 amounts paid to winners of drawings, races, sporting & other events, etc. that don’t involve a wager.)
Box 6, “Medical and health care payments”.
Box 4, “Federal income tax
Form 1096, Annual Summary and Transmittal of US Information Returns, is a transmittal form that must accompany all Forms 1099 being submitted to the IRS. It summarizes all the information on the Forms 1099 being submitted.
YES – if you FAIL TO FILE a Form 1099 with the IRS and you cannot show reasonable cause, you may be subject to a penalty as follows:
on individual Forms 1099.
on other IRS tax returns, e.g. Form 1120,
941, 940, etc.
Yes, you may call (866) 455-7438. The hours of operation are Monday through Friday from 8:30 am to 4:30 pm Eastern Time
(4:30 am to 12:30 pm Alaska Time). This toll-free number can be used for questions regarding any information returns (including W-2’s, W-3’s and W-2G’s) and also backup withholding.
FINAL NOTE: 1096, is there a toll-free number I can call?