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May 28th, 2008, 03:26 PM | #1 |
Major Player
Join Date: Feb 2003
Location: Bay City, Michigan
Posts: 585
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IRS 1099 tax form
Am I, as a producer, supposed to fill out and mail to the announcer I hire throughout the year a 1099 tax form with the amount I've paid him during the previous year as an independent contractor?
I suddenly realized that perhaps I should have been doing this? |
May 28th, 2008, 05:17 PM | #2 |
Trustee
Join Date: Jul 2005
Location: Willmar, MN
Posts: 1,400
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You need to give him a 1099 if you've paid him more than $600.
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May 28th, 2008, 05:23 PM | #3 |
Major Player
Join Date: Apr 2002
Location: Lewisburg PA
Posts: 752
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Yes, but you should be aware that there are special IRS rules about what constitutes an "independent contractor" in the video and film industries.
See: http://www.mca-i.org/en/art/?41 and: http://www.mca-i.org/en/art/?9 as examples. If the person you paid does not meet the tests for independent contractor you could owe federal taxes that must be withheld and, depending on the state, worker's comp insurance payments. |
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