Home     About Us    Contact Us     Contribute     Privacy
Mutual Funds
Related Articles
Related Definitions
Related Categories
Tip of the Day

Tip of the Day Write A Will

Write A Will - We never want to think our time here on earth may come to an end, but unfortunately, when your time comes, it is much better to...

read entire tip

Related Podcasts
Recently Added
Other Great Sites

1099 Tax Filing

The Form 1099 series of the Internal Revenue System (IRS) encompasses several versions. These versions are: 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H, 1099-INT, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-Q, 1099-R, 1099-S, 1099-SA, 1042-S, SSA-1099, SSA-1042S, RRB-1099, RRB-1099R, RRB-1042S, and W-2G; proper description of the forms within the series are available through the IRS. Each variant is for a specific filing purpose. Form 1099 is used to denote other sources of income other salaries and wages.

Every version of the Form 1099 has its corresponding requirements. The IRS help section lists some guidelines for filing Form 1099. Form 1099-A should be filed for the acquisition or abandonment of secured property. Form 1099-B is used to report income generated from proceeds from broker and barter exchange transactions. Form 1099-C is filed for cancellation of debt. The IRS requires certain conditions before the cancellation is made to be valid. Form 1099-CAP is filed to account the changes in corporate control and capital structure. Form 1099-DIV is used to account dividends and distributions. Forms 1099-G, 1099-H, 1099-INT and 1099-LTC are filed to account for government payments, health insurance and advance payments, interest income, and long term care benefits irrespectively. Form 1099-MISC is filed to account for miscellaneous income. Form 1099-OID is filed to account for original issue discount. Form 1099-PATR is filed to account for taxable distributions received from cooperatives. Form 1099-Q is for payment from qualified education programs. Form 1099-R is filed to account for distributions from pensions, annuities, retirement plants, IRA's, and insurance contracts. Form 1099-S is used for proceeds from real estate transactions. Form 1099-SA is filed to account for distributions from an HAS, Archer MSA, or Medicare Advantage MSA. Form 1042-S is used for foreign person's U.S. source income. SSA-1099 is filed to account for Social Security benefit statement. SSA-1042S form is used to account for Social Security benefit statement to nonresident aliens. Form RRB-1099 is filed to account for payments by the Railroad Retirement Board. Form RRB-1099R is used to account for pension and annuity income by the Railroad Retirement Board. Form RRB-1042S is used for payments by the Railroad Retirement Board to nonresident aliens and the FormW-2G is filed to account for certain gambling winnings.

The problem with 1099 tax filing is that it requires bulk filing. In the case of the businesses, they have to file several 1099 tax forms a year. The company should file the required 1099 forms for every employee. If the number of 1099 forms that must be filed exceeds 250 forms, this should be filed electronically using e-file system of the IRS.

Discuss It!

Cases Solutions said:

This post is truly astonishing one! I was pleased to peruse this, all that much valuable.

Excel Solver Operations Management Assignment Help said:

Excel Solver Operations Management Homework and Assignment Help, Homework and Project Assistance Excel Solver Assignment Help In the theme to the Constraints box, put in any restraints that you aspire to apply

Cold Fusion Studio Project Help said:

Cold Fusion Studio ColdFusion Help, ColdFusion Assignment & Homework Help, ColdFusion Project ... Inthe previous chapters, you learned about ColdFusion and how to create ColdFusion templates. In thischapter

MathCad Online Project Help said:

We are number 1 in MathCad help. This is leading website for getting the Mathcad Homework & Assignment help taken from. We also provide Tutors for Mathcad as well as do complete projects of mathcad.

VB.Net Assignment Help said:

Our website is number 1 in Visual Basic Assignment Help. This is preferred destination for various students to get their VB Projects VB.net Homework Done.

College Term Papers Writing Services said:

We are Number 1 Term Paper Writing and Essay Writing Service. Feel free to send us an inquiry for your custom term papers, essay writing help and dissertations.

Medical Thesis Help said:

Medical Thesis Writing Service & Medical thesis help Assignment Help & Homework Help - Medical Thesis Writing Service & Medical Thesis Help Introduction Medical Science is among one of the most important fields in our society.

Security Issue Java Homework Help said:

Security Issue Java Assignment Help, Online Java Project Help Security Issue  In earlier chapters of this book, you learned that untrusted apple s are constrained to operate in a "sandbox." 

Matlab Simulink Help said:

SIMULINK Matlab Help, Matlab Assignment & Homework Help, Matlab Tutor ... OUTLINE 9.1 Simulation Diagrams 9.2 Introduction to Simulink 9.3 Linear State-Variable Models 9.4 Piecewise-Linear Models 9.S Transfer-Function Models 9.6

Online PHP Programming Help said:

We are number website 1 in PHP Assignment help. This is No.1 destination for students to get their PHP Homework & Assignment done. We also do complete PHP Projects.

Sociology Term Paper Help said:

Our website is number 1 in Sociology homework help. This is preferred destination for various students to get their Sociology assignment help done. We also help in Sociology Dissertation, Sociology Thesis and Sociology Essay/ Term paper.

Case Study Analysis said:

Case Study Analysis Case Study Help, Case Study Solution & Analysis & A case study evaluation needs one to address the company’s issue, analyze the alternate options, and propose the best answer using supporting evidence.

Amplitude Modulation Help said:

Amplitude Modulation Assignment and Online Homework Help & Project Help We have mentioned that amplitude modulation is a means used to transmit by varying the .amplitude of a high-frequency carrier.

Most Popular Articles
Most Popular Definitions
Daily Definition

Definition of the Day Common Stock Ratio

Common Stock ratio - The common stock ratio is when you take a company or corporation's common stock and divide it by the company or corporation's total capitalization, and then express it as a percentage. To arrive at the capitalization of a company you take the market price of the...

read entire definition




Home     About Us    Contact Us     Contribute     Sitemap


Copyright © 2009 TeenAnalyst.com