Form 1099-MISC due February 2

All required Forms 1099 and W-2 must be furnished to recipients by February 2, and furnished to the IRS by February 28. The requirements regarding Form 1099-MISC (Miscellaneous Income) are lengthy and complex, as this is the "catch-all" 1099 form. Here are some of the most common reasons for filing a 1099-MISC:

• Medical and health care payments of $600 or more (Box 6)
• Attorney fees of any amount (Box 7)
• Rent payments of $600 or more to an individual or unincorporated entity (e.g. Partnership or LLC) (reported in Box 1)
• Fees for services paid to an individual or unincorporated entity, such as a subcontractor or director, of $600 or more (Box 7)

More information on the 1099-MISC is available at http://www.irs.gov/instructions/i1099msc/ar02.html#d0e819, or you may contact us with your 1099 questions.