Friday 13 January 2012

Due date to issue a 2011 form 1099 misc to independent contractor is fast approaching.


It’s been 2 weeks since the start of year 2012. Since the beginning of New Year, we have been advising businesses and individuals to start preparing documents for reporting their informational returns. You have 2 more weeks left to issue a 1099 misc form to your contract workers.

1099 misc form generally titled as ‘miscellaneous Income’ is the official form which businesses have to issue to their contract workers (non employees of the firm) for services provided by them and in return the contract workers were paid $600 and more.

1099 misc forms are issued to contract workers or non employees of the firm, because they would need the 1099 misc during their income tax filing. The information provided on Form 1099-MISC includes non-employee compensation, federal and state income taxes withheld, and medical and health care payments.

January 31st 2012 is the last date to issue a 1099 misc form to your contractor. You must also file a 1099 misc form with the IRS. If you are paper filing a 1099 form, then the due date is Feb 28th 2012 and if you are efiling 1099 misc form, then the due date is April 2nd 2012.

E filing is the most appropriate option when you are filing for 1099 forms. This is because of many reasons:
  • Efiling is quick and easy process
  • Efiling is safe and secure
  • Efiling saves paper
  • Efiling provides IRS confirmation much earlier than paper filing
  • Efiling is cost effective.
There are many service providers offering efiling service for 1099 forms, but personally, I prefer 1099online.com. Their services are wonderful and offer an easy navigation for 1099 misc efile. If you want to get your 1099 forms filed in a quick and easy manner along with protecting your wallet, then definitely opt for 1099online.com


1 comment:

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