Form 1099-MISC

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Form 1099-MISC

A form one files with the IRS on which one reports royalties, lotteries, commissions, golden parachute payments, income earned by an independent contractor, and similar payments. The person earning this income receives a copy of the 1099-MISC, which he/she uses to determine income for filing his/her own taxes.
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References in periodicals archive ?
Talecris issued Wintermans a Form 1099MISC, Miscellaneous Income, reporting the total $1,151,493 as rent payments.
The third step is to determine whether the attorney or law firm receiving part of the award or settlement should be issued form 1099MISC. Under proposed regulations section 1.6045-5(a), an attorney or law firm that receives any part of a settlement or award must receive form 1099-MISC from the payer.