The IRS requires businesses to issue Form 1099-NEC to any non-employee paid $600 or more for services, including contractors, service providers and vendors, with some exceptions like payments made to corporations. Other forms, such as 1099-MISC for rent and legal services, 1099-DIV for dividends and 1099-INT for interest, apply to specific payments.
To avoid penalties, all 1099 forms must be sent to recipients by Jan. 31 of each year and filed with the IRS.
Understanding the different 1099 forms, deadlines and recipient types is essential for compliance.
Review the tables below to compare these details.
1099 Forms and Deadlines
| Form | What It Reports | Recipient Due Date | IRS Filing Due Date |
| 1099-NEC | Non-employee compensation (e.g., contractor payments) | January 31 | January 13 |
| 1099-MISC | Miscellaneous income (e.g., rent, legal fees, royalties) | January 31 | February 28 (paper filing) March 31 (electronic filing) |
| 1099-INT | Interest income | January 31 | February 28 (paper filing) March 31 (electronic filing) |
| 1099-DIV | Dividends and distributions from investments | January 31 | February 28 (paper filing) March 31 (electronic filing) |
1099 Recipients
| Recipient Type | Form 1099 Required? | Details |
| Independent Contractors | Yes | If paid $600 or more for services during the year |
| Freelancers/Self-employed | Yes | If paid $600 or more for services during the year |
| Vendors (sole proprietors LLCS if taxed as a partnership) | Yes | If paid $600 or more for services during the year (non-corporations) |
| Attorneys/Law Firms | Yes | Even if they are corporations, if paid $600 or more |
| Landlords | Yes (1099-MISC) | If paid $600 or more in rent |
| Corporations | No | Generally exempt, except for payments like legal fees |
If you have any questions regarding the 1099 reporting process, connect with our CBIZ outsourced accounting team.
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