Did You Pay an Independent Contractor $600 or More?
If you paid any independent contractors $600 or more during the year, you must furnish the recipient Form 1099-MISC no later than January 31, of the following year.
If January 31 falls on a Saturday, Sunday, or legal holiday, then the next business day is the deadline.
Send the IRS a copy of each Form 1099-MISC no later than February 28 of the following year.
If February 28 falls on a Saturday, Sunday, or legal holiday, then the next business day is the deadline.
If you file electronically, you have until March 31.
Keep a copy of each 1099 for your files.
Form 1096, Annual Summary and Transmittal of U.S. Information Returns is used to summarize data on all 1099s you file. File only one Form 1096 along with all 1099s.
For Freelancers and independent Contractors
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- Pay your quarterly estimated taxes online.
- Export Schedule C to TurboTax at year-end for faster filing.
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Have an accounting or bookkeeping question? Email it to me.
- Return to the Closing A Business Table of Contents to find related links.