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A complete guide to report payments of $600 or more made to licensed medical or health care providers in 1099-MISC Box 6 even if they are corporations.
Generally, corporations are off the hook when it comes to 1099-MISC reporting. But there’s a key exception with Box 6. If you pay $600 or more to any licensed medical or health care provider (doesn’t matter if they’re a sole proprietor- LLC, C corp, S corp, or even a professional association), you will have to file Box 6 of 1099-MISC. This rule also covers payments to large hospital systems, government agencies, and self-insured employers. So for Box 6, pretty much everyone is subject to reporting, regardless of their business structure.
The following are the mandatory filers who gotta file 1099-MISC Box 6:
The payments of $600 or more that goes to 1099 misc healthcare providers like doctors, clinics, or hospitals for medical services are counted as form 1099-MISC medical payments. These payments are reported in 1099-MISC Box 6. One thing to remember is that these payments are reportable even if the provider is a corporation.
Payments to tax-exempt hospitals, extended care facilities, or government-owned healthcare facilities are generally NOT required to be reported in 1099-MISC.
Here’s what doesn’t go in box 6 of the 1099-MISC:
Snag that W-9 from your provider before filing your 1099-MISC form.
Plug their TINs into the Tax1099’s TIN matching portal to cross-check with the IRS database. Better safe than sorry, right?
Make sure the nature of services are actually licensed medical payments according to the IRS 1099 misc medical rules.
Tally up all the payments for each provider by their EIN. Just a bit of number crunching, we promise! And if you paid with a credit card, that’s gonna be a 1099-K, so you can skip this part.
Jot down the payment date, what the service was, and how much you paid. Hold on to every invoice, document or any proof you got. And once you file 1099-MISC, keep the records for atleast 3 years.
If your provider doesn’t send back the W-9, you gotta start that 24% backup withholding. One task added to the list but it keeps things in the clear!
Now that you know what and when to use box 6 on 1099 misc, it’s time to understand how to file box 6 of 1099-misc for doctor payments.
There are majorly three different ways to file a 1099-MISC Form. You can either choose to paper file or submit electronically. According to IRS, if the total 1099 forms extends beyond 10 in a particular year, the payer must file them online.
Collect payer (organization, business, or individual paying $600 or more in medical payments) information such as name, address, and EIN.
You can use Tax1099’s digital W-9 collection tool to collect recipient (individual or entity receiving the payment) legal name, address, and TIN.
If TIN is not provided by the recipient, apply a 24% backup withholding to the medical and healthcare payment and enter that amount in this box. You can use Tax1099’s real-time TIN matching to verify TIN with IRS records to prevent backup withholding.
Report the total gross amount paid for medical services in a year. It must be more than $600 in a tax year.
These boxes are applicable only for the state that require 1099-MISC state reporting.
Send the recipient copy of the forms by January 31 using Tax1099’s recipient copy distribution portal (IRS-compliant eDelivery) or via our print and mail feature.
All payments for medical or health care services are reportable regardless of the recipient’s corporate status.
The minimum threshold for reporting royalties on Box 2 1099-MISC is $10 in a calendar year.