What Is A IRS 1099-MISC Form?
Miscellaneous Income is the form where a company or a person describes all the payments they've received during the year. More commonly, Form 1099-MISC is used by freelance workers to report their earnings for the year. Form 1099-MISC has multiple parts. Copy C, for instance, is completed by self-employed individuals while Copy B is filled out by the payers. Generally the form requires a Social Security number and employer identification number. Once it is completed, it must be sent to the recipients and the IRS.
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