Independent Contractors: Have You Checked Your 1099s?

Businesses are required by law, to send 1099-MISC forms to independent contractors (non-employees) to whom they paid $600 or more in a calendar year. These forms are due to the contractors by the end of January of the following year, and to the IRS by the end of that...

New 1099 Regs – Online Bill Pay is still reported on a 1099-MISC

I got off the phone with the IRS and have an answer: online bill pay is still 1099-MISC, not 1099-K. This is very good news as it uncomplicates things a bit if you have paid contractors partially with regular checks and partially with online bill pay.. The IRS, in...