What is a 1099 Form?
The 1099 Form serves a similar purpose to the familiar W2 Form. Individuals may receive 1099 forms in the mail from banks reporting their interest earnings, or from companies for contracting work.
Who must file a 1099 Form?
If you are a business who has paid independent contractors or other non-employee workers, you must file a 1099 Form. However, a 1099 Form is only required if the payment is $600 or above.
Types of Form 1099