How Do I Fill Out a 1099 Tax Form?
A 1099 Form is a document that you must provide to people who have worked for you during the course of the year who do not technically qualify as employees. Anyone who performs annual services for your company in excess of $600 must receive a 1099 Form. Recipients of 1099 Forms use them when filling out their own tax forms in order to verify payments that they have received. You must also fill out a 1099 Form for any contract worker subject to backup withholding, regardless of the amount you paid them. Backup withholding is a deduction from a contract worker’s earnings, which is required when he has not provided a required taxpayer identification number. Provide each contract worker with a Form W-9 to fill out when he begins working for you. If he does not fill out and return the form, deduct 28% of his wages as backup withholding, according to IRS requirements. Fill in the name and contact information on Form 1099 for the contract worker and also for your own business. Include your fe
