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Whats the IRS minimum compensation amount needed to issue a 1099-Misc in 2007?

April 26, 2017compensation IRS ISSUE minimum needed

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Whats the IRS minimum compensation amount needed to issue a 1099-Misc in 2007?

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The minimum amount needed to issue a 1099-Misc in 2007 is also $600. The IRS has not changed this amount from prior years. The IRS requires that employers who pay independent contractors amounts that exceed $600 to issue them a 1099-Misc to them. In addition, the employers are required to send a copy of of every 1099-Misc issued to independent contractors along with a “Form 1096 Annual Transmittal Form” to the IRS as well.