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What are the requirements to become a 1099?

In general, you are only required to issue a Form 1099-MISC to an individual or an unincorporated business. If the payee qualifies, you must secure a valid Social Security number or tax ID number, as well as a valid address. This may prove to be tricky, as some people who are self-employed prefer to remain anonymous in the eyes of the IRS.

Who should receive a 1099?

Form 1099-MISC is given to non-employees such as independent contractors and other entities paid by your company. You must give a 1099-MISC form to any individual or business your business paid $600 or more in a tax year. Oct 7 2019

Why do you need a 1099?

A 1099 form is used for various reasons, but it typically is given to an independent contractor — also known as a freelancer — as a record of the income that he or she received from a particular business. Other versions of the 1099 can be used to report different types of income, such as interest, dividends,...


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