123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Investing---Finance >> View Article

When And How To File 1099 Misc Form?

By Author: Richard
Total Articles: 20

There are various forms for filing taxes in the US. Out of all these there’s one very important one called 1099 misc form. It is used to report miscellaneous incomes to the government. If you are running a business or if you are self-employed, you will be required to submit this report to the Internal Revenue Service. It is also important to note that you will be required to report this form also to the person or business whom you have paid.
Now the question is when does a business or a person need to fill in this form? The answer to this question is that businesses are required to fill out a Form 1099-MISC for all people, vendors, subcontractors, independent contractors, and others in the event when $600 or more amount is paid every year for the purpose of crop insurance proceeds, prizes and awards, cash payments to fishermen, medical and health care payments, fees paid to attorneys, amount paid for housing rents, for services including parts and materials, and every other type of payments that are not covered by any other tax information reporting forms.
Not just that you are required to report 1099 misc form if you pay $10 or more amounts per year for the purpose of brokers’ payments for dividends or tax-exempt interests, and also for royalties.
The next question here is how and where to report 1099 misc? To this I would say thanks to internet, you no longer necessarily need to hire a tax consultant to do this for you. You can do the e-filing of this form. E-filing means filing forms online with the help of internet. Yes, now you can use a website to do this very easily. Today, there are multiple websites that offer such services. All you need to do is to get yourself registered for the website and start filing the forms. You will be charged a nominal fee per form.
You can use Google to find out some of the website offering this service. However, you can find a bit of difference in their prices, but they all provide quick support services at your beck and call. If you find it difficult to do it by yourself, you can take the help of their online support, they will guide you at every step.
An even better piece of news is that it’s not just about 1099 misc, you can use online medium to file w-2 online, e file 1099-int form, and all other important forms. The benefits of such services are many as it proves cost effective and hassle free. You can do it anytime and from the comforts of your home or office. Once you submit your forms, all your details are saved in your profile with highly encrypted access. It allows you to access your previously submitted forms at any point of time. The charges for such services are generally based on forms, no monthly fees or subscription are taken from you.

The author is an expert at tax matters for UK and USA. He is currently associated with onlinefiletaxes.com – one stop destination that allows you to file w-2 online, 1099 misc form, and e file 1099-int form within simple steps.

Total Views: 47Word Count: 539See All articles From Author

Investing / Finance Articles

1. Download Algotrade To Enjoy Consistent Profits In Forex Trading
Author: johnsyanol

2. Applying For Guaranteed Loans With A Bad Credit History – What To Expect?
Author: Katherine Felix

3. Why You Should Refinance Your Mortgage Instead Of Getting A New One
Author: Daniel Contreras

4. Retirement Planning Companies In Richmond
Author: Danny McCarty is the author of this article

5. With Trade12: You Can Work With The Trustiest Brokers
Author: Trade12

6. Everything You Ever Wanted To Know About Cfa Level 1
Author: Sushri Panda

7. Your Forex Leverage & How To Manage It
Author: John Arnold

8. What Is A Two Wheeler Loan And How To Apply It?
Author: Neha Sharma

9. What Is A Recurring Deposit Calculator And How To Use It?
Author: Neha Sharma

10. Types Of Life Insurance Policies
Author: Neha Sharma

11. What Are The Basic Types Of Insurance Policies Available To Us?
Author: Neha Sharma

12. Do You Know What A Two Wheeler Loan Emi Calculator Is?
Author: Neha Sharma

13. Three Main Types Of Bank Loans Available In India
Author: Neha Sharma

14. Did You Know These Four Facts About Inactive Savings Bank Accounts?
Author: Neha Sharma

15. All You Need To Know About Personal Loans
Author: Neha Sharma

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: