Everything you need to know about IRS form 1099-MISC for 2023 Tax Year 

Form 1099-MISC, Miscellaneous Information, reports payments other than non-employee compensation made by a trade or business to whom they have paid during the year. 

Note: If you have 10 or more information returns to file, you may be required to file online. Get started with Tax1099 and eFile IRS form 1099-MISC in just a few simple steps.  

What’s Form 1099-MISC? 

Form 1099-MISC is used to report miscellaneous payments made in the course of business or trade in a tax year. Business taxpayers use this form to report payments such as rent, prizes, payments to an attorney, medical and health care payments, and more. 

How to file Form 1099-MISC Electronically? 

 

File your Form 1099-MISC electronically with the IRS and the required state using Tax1099, an IRS-authorized e-file provider supporting e-filing for all 1099, W-2, 94x, and ACA Forms.  

Simply follow the steps mentioned below to file 1099-MISC electronically with the IRS: 

Step 1: Create a free Tax1099 account or log in if you already have one. 
Step 2: Select Form 1099-MISC and enter the information. 
Step 3: Review the form. 
Step 4: E-file it with the IRS and the state. 

Specific Instructions to file 1099-MISC:  

The Internal Revenue Service (IRS) requires every business owner to submit Form 1099-MISC to report miscellaneous payments made to independent contractors for their services. The form is intended to collect information from income types that are at a high risk for underreporting by the taxpayer and as a result the payer reports a range of payments and tax withholding from the contractor/recipient in Boxes 1 to18. 

At least $10 in royalties (box 2) or broker payments in lieu of dividends or tax-exempt interest (box 8). 

At least $600 in: 

• Rent (box 1); 
• Prizes and awards (box 3); 
• Other income payments (box 3); 
• Generally, the cash paid from a notional principal contract to an individual, partnership or estate (box 3); 
• Any fishing boat proceeds (box 5); 
• Medical and health care payments (box 6); 
• Crop insurance proceeds (box 9); 
• Payments to an attorney (box 10); 
• Section 409A deferrals (box 12); or 
• Nonqualified deferred compensation (box 14). 
• Any business or person that withheld any federal income tax on independent contractors’ behalf under backup withholding rules, regardless of the amount withheld or the amount paid. 

In addition, use Form 1099-MISC to report direct sales of consumer products totaling at least $5,000 to a purchaser for resale, excluding sales made at a permanent retail establishment (box 4).  

1099 MISC Deadline for 2023 Tax Year 

Filing Type	Due Date
Recipient Copy (No Data in Box 8 or 10)	Jan 31, 2024
Recipient Copy (With Data in Box 8 or 10)	Feb 15, 2024
IRS eFile	April 01, 2024
IRS Paper Filing	Feb 28, 2024

File your 1099-MISC Form on time with Tax1099 to avoid late filing penalties.  

Who should file Form 1099-MISC? 

Form 1099-MISC reports payments made to others in your trade or business, not including those made to employees or for non-employee compensation. 

• Businesses that made miscellaneous payments of at least $10 in royalties (box 2) or $600 of other income during the course of trade or business in a tax year. 
• Entities that have withheld any federal income tax under backup withholding rules regardless of the payment amount. 
• Trade or business entities, including nonprofit organizations, trusts of qualified pension or profit-sharing plans, certain tax-exempt organizations, and farmers’ cooperatives.