Form 1099-MISC, Miscellaneous Income Reporting

This handout describes the filing requirements for Form 1099-MISC, Miscellaneous Income, including payments made to attorneys and penalties for failure to file correct returns or furnish correct payee statements.

HIGHLIGHTS: 

1. New filing due date.

2. Who must file.

3. Reportable payments to corporations.

4. Payments to attorneys.

5. Penalties.

CLIENTS WHO MAY BENEFIT:

1. Businesses that hire independent contractors.

2. Businesses that pay rent.

3. Businesses that hire an attorney.

4. Businesses that make payments of $600 or more.