Get your 1099 MISC Form Online
Online paystub generator brings to you an easy and hassle-free method of generating printable 1099 MISC forms.
Use our template to generate 1099 MISC form online and save a lot of time and money.
With our website, you can get an error-free printable 1099 MISC form in a matter of minutes.
Just follow this 3-step method:
⮞ Enter all the info into our 1099 MISC form online template
⮞ Check the preview and in case you find mistakes, correct them. Once you are satisfied you can proceed to order.
⮞ Oder the printable 1099 MISC form just for $5.
After checking out, you will receive your generated W-2 form via email.
From our template you can create a 1099 MISC form online for the following years:
⮞ 1099 MISC 2015
⮞ 1099 MISC 2016
⮞ 1099 MISC 2017
⮞ 1099 MISC 2018
⮞ 1099 MISC 2019
⮞ 1099 MISC 2020
⮞ 1099 MISC 2021
⮞ 1099 MISC 2022
The 1099 MISC (Miscellaneous Income) form is one of the most common 1099 forms. It is used by taxpayers to report non-employee compensation to the IRS.
What is a 1099 MISC form?
The 1099-MISC is used to report the income of all those individuals who have provided any kind of services to your company but are not listed in the payroll.
Non-employees, like independent contractors or freelancers who were paid more than $600 in a tax year by your company need to be given a 1099 MISC.
This form is also used when someone makes a royalty income of more than $10.
NOTE- MISC is issued only for business payments and not for individual payments.
What you need to know
The 1099-MISC form causes a lot of confusion among new folks, especially during the tax season. Who gets one? Who doesn’t? Do I need to send them out? etcetera…
Many small business owners just decide not to bother with it and thus end up paying huge penalties when caught. But, to be honest, this form won’t trouble you much once you get the basics of how to fill it out and whom to give it.
As a business owner, you need to send the MISC form to any non-employee (with a few exceptions) to whom you paid more than $600 in a tax year.
For example, if you paid $700 to an independent contractor during the tax year of 2018, you have to send out a 1099 MISC to that particular contractor by 31st Jan 2019, which is the due date.
This form is most commonly used to pay freelancers, handymen, independent contractors, or anyone else who provides a service and isn’t on your payroll. As they are not permanent employees at your business, it’s not your responsibility to withhold their taxes or provide them with benefits (like insurance).
It is also used for reporting any prize or award received by the non-employees while working for a business. In a nutshell, the 1099-MISC form is used by the IRS to ensure that no taxable income generated by non-employees from a company is left unnoticed!
The MISC form received by any individual or business can be used in addition to or in place of the W-2 form received for a normal employment agreement.
As mentioned earlier, the due date of sending out the document for the previous tax year is by 31 st Jan of the current year.
Delaying or not sending the form may cost you $30.0 to $100.0 per form as a penalty. And if proven to intentionally disregard the law, you will be fined a minimum of $250 per missed statement- with no upper bound.
Who gets the MISC and Who Doesn’t?
As mentioned earlier, you need to complete the 1099-MISC form and send it out to someone who has received at least $10 in royalties or broker payments.
Besides this, you must send this form to any non-employee who received at least $600 in a tax year as:
⮞ Rents
⮞ Prizes and awards
⮞ Medical and health care payments
⮞ Other income payments
⮞ Crop insurance proceeds
⮞ Cash paid to any individual, partnership, or estate from a national principal contract
⮞ Payments made to an attorney (read below for exceptions).
⮞ Cash payments are made for fish purchases (or any other aquatic life) from any individual involved in a fish-catching business.
⮞ Any fishing boat proceeds
In addition to the above cases, you also need to send and file a 1099 MISC for the following circumstances:
⮞ For reporting direct sales of at least $5,000 for resale at any place other than a permanent retail establishment.
⮞ For any individual whose federal income tax was withheld by you under a backup withholding order.
⮞ Any form of payments made to nonprofit organizations, trusts of a qualified pension or profit-sharing plans of employers, other exempt organizations, farmers’ cooperatives, widely held fixed investment trusts, and payments to federal, state, or local governments.
The following are a few general exceptions for which you don’t need to send a MISC form:
⮞ Wages/salary paid to employees (to be reported on the W2 form).
⮞ Generally, money paid to corporations (including a limited liability company (LLC) treated as a C or S corporation) doesn’t need to be reported through a MISC form.
⮞ Payments for telegrams, merchandise, telephone, freight, storage, and other similar items.
⮞ Rent payments are made to real estate agents or property managers. (Note: the real estate agent or property manager have to use Form 1099-MISC to report the rent paid over to the property owner.)
⮞ Business travel reimbursement paid to the employees (may be reportable on Form W-2).
⮞ Military differential wages are paid to employees when they are on active duty in the Armed Forces or any other uniformed services (to be reported on Form W-2).
How to Create and File 1099 MISC Forms
The MISC form is a multi-copy form that contains:
⮞ Copy A: to be sent to the IRS (via mail or online)
⮞ Copy 1: to be sent to the state tax department
⮞ Copy B: for the recipient
⮞ Copy 2: for the recipient to file with his/her state income tax return.
⮞ Copy C: For the payee (employer)
Copy A of the form can’t be directly printed from the website as the special red ink on it can’t be copied. You can get the official copy of the form directly from the IRS, an office supply store, or from your tax preparer.
You can also use our website: https://onlinepaystubgenerator.com/1099-MISC to get your 1099 MISC form online.
Once you get the form, you need to fill it with the appropriate information and then proceed to file it with the IRS and also distribute Copy B to the independent contractors.
You can either file your 1099 MISC form through mail or you may file it electronically from IRS’s official website.
