- Substitute dividends and tax-exempt interest payments reportable by brokers.
- Fees to subcontractors or directors and golden parachute payments.
- Fish purchases paid in cash for resale.
- Gross proceeds paid to attorneys.
- Crop insurance proceeds.
1099 Filing Requirements
The newly released IRS regulations have lowered the threshold for having to electronically file forms from 250 to 100 for this filing season. This new regulation includes the total for all aggregated forms filed.
If your business is required to file Form 1099-MISC, you will need to provide multiple copies. To avoid penalties, make sure to send the correct copy to the correct audience (when applicable).