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Don’t Forget Those 1099’s

Date: 01/24/2007 | Category: Business | Author: Diana Heeb Bivona

The deadline to send your 1099-MISC income forms to any person that you have paid at least $600 in rents, services or other income payments is fast approaching. Remember, the 1099-MISC form must be filled out and mailed to those individuals no later than January 31, 2007.

Who gets a 1099-MISC? Generally, you should issue the form to any independent contractor that you paid $600 to during 2006. For example, if you paid a web designer $1,000 to build and maintain your business website in 2006, a 1099-MISC filing is required. If you paid an independent contract $750 to write articles for your website, you would need to send that person a 1099-MISC as well. Note that you are not typically required to report payments to a corporation.

For more specific information or to order the forms, go to the IRS website at www.irs.gov.

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