Form 1099-MISC Worksheet

Form 1099-MISC worksheet
for tax year 201
8 (2019 filing season)

Reporting Requirements

In general, you are required to issue a Form 1099-MISC to any vendor (payee) that meets the following conditions.

  1. Is one of the following:
    1. an unincorporated business,
    2. an individual,
    3. a law firm or health care provider whether incorporated or not, or
    4. a limited liability company (“LLC”) that is not taxed like a corporation (see Form W-9).
  2. That your trade or business paid a total of $600 or more in the 2018 calendar year.
  3. The payments were for services or rent (e.g. repair, accounting, legal, building or land rent, subcontracts, etc. including any materials provided with the service).

Obtaining Payee Information

You are required to obtain a Form W-9, Request for Taxpayer Identification Number and Certification, from each payee that meet conditions 1 and 3, above, and that may receive at least $600 in payments during 2018.

If the payee refuses to provide Form W-9 then backup withholding may be required on your part. Contact our office if this is the case.

Due Dates

Generally, Forms 1099-MISC are due to your payees by January 31, 2019. A $250 per form penalty can be assessed for failure to provide the forms by the due date.

Copies A of Form 1099-MISC are due to the Internal Revenue Service by January 31, 2019. An additional $250 penalty per form can be assessed for failure to file by the due date.

Income tax returns require taxpayers to answer questions indicating their compliance with information return reporting requirements.

Worksheet Instructions

These completed worksheets must be provided to our office before January 18, 2019 in order to meet the above due dates.

Use the forms below to provide us with the information needed to prepare your Forms 1099-MISC information returns.

Caution!   The Internal Revenue Service matches payee names and taxpayer identification numbers (“TIN”) (e.g. Social Security Numbers (“SSN”) or Employer Identification Numbers (“EIN”) Numbers). It is important that if the payee name is that of an individual that you provide their SSN for the TIN or if the payee name is that of a business that you provide their FEI number for the TIN. Here are several examples of proper name and TIN matching.

Payee TIN matching examples

             

Payee   

  TIN Type
  John A. Doe   999-99-9999 SSN
  Sally Smith   888-88-8888 SSN
  John A. Doe d/b/a City Handy Work   999-99-9999 SSN
  City Handy Work   99-8888888 EIN
  Sally Smith Law Firm, LLC   88-7777777  EIN
  John and Sally Office Cleaning Partnership   77-6666666  EIN

 

Form 1099-MISC Worksheet

                                                                                        

Contact Us
Youmans & Gardner, CPAs
Southwest Georgia

108 East Broughton Street
Bainbridge, Georgia 39817
Click For Map
229.246.1511
Fax 229.246.1488

Florida Big Bend

113 North Madison Street
Quincy, Florida 32351
Click For Map
850.627.7109
Fax 850.627.7384

Firm News
Payroll Tax Deferral

Employers and employees have the option of deferring the 6.2% employee social security tax from September 1 through December 31, 2020. Any deferred taxes must be paid between Janaury 1 and April 30, 2021.
Read more ⇒

Families First Coronavirus Response Act

Employers are required to continue to pay employees under certain circumstances related to the COVID-19 virus. Employers will be reimbursed 100% of the payments under this act.
Read More ⇒

NetClient Portals

Use our web-based NetClient portals or mobile app to send us documents and other files.
Read More ⇒

Payroll Checkup

Perform a "Paycheck Checkup!" Recent changes to the federal tax law made changes to your paycheck. Be sure that you have the proper amount of federal tax withheld in order to avoid a tax bill. Click here for details.

NetClient CS Apps

Our NetClient portals are mobile!