What is a 1099?

The 1099 tax form is the year-end summary of how much a company has paid a non-employee (i.e. contractor, freelancer, etc.). The government requires that organizations send their independent contractors 1099-MISC forms by January 31st, indicating the income paid to each contractor over the prior year. If a company has paid you less than $600 over the course of a year, they do not need to send you a 1099 form. However, you must still account for the income. 

Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.