Well, it is that time of year again…. That’s right tax season is officially here! As a small business employer, you are responsible for submitting and supply recipient copies of Form 1099-MISC to your Independent Contractors and IRS. Here is how to create 1099-MISC Forms free Today!
How To Create 1099-MISC Forms Free
Employee Vs. Contractor
One of the most vital components of running a successful business is understanding the classification of your workers. An Independent Contractor usually works for multiple companies, and they have total control over where and when they work. Their pay is also a flat rate and is paid once the task is complete.
Knowing this distinction is important because your responsibilities as the employers will vary based on their classification. If you employ contractors, you will not be responsible for tax withholdings or any health benefits.
What is a 1099-MISC Form?
Form 1099 is a series of information returns that report income from self-employment, interest and dividends, or independent contractors to the IRS. The various Forms correspond to a variety of income reporting types.
IRS Form 1099-MISC reports the income for services performed for small businesses by individuals not classified as employees. Miscellaneous income can include payments made to subcontractors, rental payments, awards, prizes, or substitute payments in place of dividends. A 1099-MISC Form must be sent to all non-employees compensated $600 or more for their services rendered during the previous calendar year.
Important Deadline Form 1099-MISC Requirements:
January 31st: If you are reporting Nonemployee compensation (NEC) in box 7 of your IRS 1099-MISC Form the deadline for filing with the IRS for both paper filing and e-filing. Recipient copies of Form 1099-MISC must be received by all independent contractor on or before this date.
February 28: Paper filing deadline for filing IRS Form 1099-MISC
April 2: Electronic filing deadline for IRS Form 1099-MISC
Generate Printable 1099-MISC Forms 2018
ExpressEfile is the easiest place to generate free 1099-MISC Forms online. Fill out the required information fields then print 1099-MISC Form, or download 1099-MISC Forms. There is no limit to the number of blank 1099-MISC Forms you can generate from your small business. In addition to the free options, they offer affordable upgrades like IRS e-filing and postal mail options.
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