A 1099 form is required whenever you pay someone who isn't your employee $600 or more during the year in the course of doing business For example, one payment in June of $300 would not require a 1099 form, but you'd hit the threshold if you make another $300 payment later in the year You must submit a Form 1099 because the payments total $600 (Perhaps this is incorrect and it is 1099ed in 16 tax year, but being so, a similar issue can still arise) However, if the billing company uses the cash method of accounting, they receive payment in 16 and will not include the income until the 16 tax year The IRS suggests that if you don't receive a Form 1099R, you should ask In other contexts, consider it carefully Forms 1099 are important In fact, y
Venmo 1099 Taxes For Freelancers And Small Business Owners
