Money paid in excess of $600.00 to an independent contractor (a person not on your payroll) who performs work for you is considered nonemployee compensation. Monies paid can include fees, commissions, prizes, or awards for services. Since an independent contractor is not on your payroll, you do not withhold taxes.
The January 31st deadline only applies to Form 1099-MISC with an amount in box 7, Nonemployee Compensation. The filing due date for other Forms 1099 & 1096 remains February 28th, 2020 if filing by paper, and March 31st, 2020.
Form |
1099 Due Date to Recipients |
Filing to IRS By Mail |
E-Filing to IRS |
1099-MISC (NEC Only) |
January 31, 2020 |
January 31, 2020 |
January 31, 2020 |
1099-MISC (Other Forms) |
January 31, 2020 |
February 28, 2020 |
March 31, 2020 |
1099-DIV |
January 31, 2020 |
February 28, 2020 |
March 31, 2020 |
1099-INT |
January 31, 2020 |
February 28, 2020 |
March 31, 2020 |
1099-R |
January 31, 2020 |
February 28, 2020 |
March 31, 2020 |
Don’t know how to file? Here is another blog to help you OR we do 1099’s for our clients, contact us at kathy@budgetease.biz to see how we can help you.