Employers must provide Form W-2 to each employee by February 1, 2010 for wages paid in 2009. The government copies of Forms W-2 must be filed by March 1, 2010 and accompanied by Form W-3.
Forms 1099 must be issued to payees by February 1, 2010 for payments made in the course of your trade or business, including rental properties and nonprofit organizations. There are many types of Forms 1099. Most commonly required to be issued by our clients are:
Form 1099 MISC- filed for each independent contractor to whom you have paid at least $600 in services and/or fees. It is also used to report rents, awards, medical and health care payments and other income payments. Form 1099 MISC is generally not required to be filed for payments made to corporations, except for payments made to attorneys.
Form 1099 INT- used to report interest payments made.
The government copies of Forms 1099 must be filed by March 1, 2010 and accompanied by Form 1096.
Please contact us for assistance in preparing your Forms W-2 and Forms 1099, determining independent contractor vs. employee status, or other questions about W-2 or 1099 filings.
1-877-TAX-1105
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