Who gets 1099?

[weblover78]

Who gets form 1099? Employer, Independent Contractor? Both? IRS?

[nitinleew]

In general independent contractors get 1099. Independent contract is anyone who you hire to do some work for you that is doing independently, with his own tools, equipment, etc; with minimum or no supervision.

An LLC that is taxed as a corporation does not get a 1099.

S-Corps and C-Corps do not get 1099's

LLC's that are taxed as sole proprietors or partnerships do get 1099's.

This is the standard practice that the CPA's I work for use.

Also, beware about the $600 minimum. . .this is for Non-employee compensation. Other fields, such as 'fishing boat proceeds' have no minimum. Be sure you know what you need to 1099 for and what the particulars are.

Hope this helps

[luvbunnies42]

Even someone who wins a instant win game and the amount is over 600.00 during the year they have a 1099 from the company they won from too.Or should.The company will report that so the person is mandated too as well.

[cassie]

Both the independent contractor and the IRS receives them. If you win at least $600 or more this will be reported to IRS as well as you.

[pranith]

i think employee will get the 1099.but independent contractor and IRS might also receive the 1099.