Definition of Form 1099-MISC | Informational Form

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Form 1099-MISC Definition

Short Definition
Form 1099-MISC (Miscellaneous) is an informational form used to report specific payments from an individual, business, or organization to another person or entity. The form is filed with the Internal Revenue Service (IRS) and, in some situations, state tax departments.

Expanded Definition
In specific situations, the Internal Revenue Service (IRS) requires payers to prepare, file, and distribute Form 1099-MISC (Miscellaneous) tax forms. Information reported on the 1099-MISC form includes funds paid to a vendor. Other forms of miscellaneous income are also reported with this form. The 1099-MISC form is prepared by the person, business, or organization making the payments. Copies must be sent to the vendor, IRS, and applicable state tax agencies.

Related Blog Article
What Is a 1099-MISC?
IRS Form 1099
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