5 tips to control the 1099-MISC chaos — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

5 tips to control the 1099-MISC chaos

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Some, but not all of your Forms 1099-MISC, must be provided to payees and filed with the IRS by Jan. 31, 2017—28 days from now. Your goal: to file all of your 1099-MISC forms accurately the first time. Here are some last minute tips you might find useful.

Sift and separate

Forms 1099-MISC on which you’re reporting nonemployee compensation in Box 7 are the only forms that must be provided to payees and filed with the IRS by Jan. 31. The following forms must be provided to payees by Jan. 31, but filed with the IRS by Feb. 28 (paper filing) or March 31 (electronic filing):

  • Forms on which you’re reporting payments to deceased employees’ estates or beneficiaries, compensatory damages for nonphysical injuries or sickness an employee received on account of an employment discrimination case or liquidated damages an employee received under the Age Discrimination in Employment Act, in Box 3
  • Forms on which you’re reporting gross proce...(register to read more)

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