Form 1099-MISC Changes and Reminders for 2013 Tax Requirements
An Important Reference for Businesses Employing Independent Contractors
In this new white paper, Teri Kaye, Partner at Daszkal Bolton, offers an overview of the changes and requirements involved with preparing Form 1099-Miscellaneous Income (1099-MISC).
The Internal Revenue Service (IRS) requires this form be issued by businesses, regardless of size, to report certain payments made to non-corporate payees. Most often, the form is used for independent contractors, but there are other applications as well.
The deadline to provide the recipient a copy of Form 1099-MISC will be January 31, 2014.
Completing this form can be an arduous task for many. This white paper explores a number of exceptions to make this process easier to understand and undertake.
Included is this white paper is the 20 factor test. This 20 point checklist offers businesses with a step-by-step to process to classify employees properly in order to understand whether these individuals should receive a W2 or a 1099-MISC.
Download Form 1099-MISC Changes and Reminders for 2013 Tax Requirements to read more.