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Form 1099-MISC Illinois: What You Should Know

Reporting requirements for this filing may vary. See the IRS Form 1099-Misc FAQ for more information. For more information, see our article on Forms 1099 and 1098 in Illinois.  Also, the following pages will help you file your employee-only Forms 1099, W-2G, and 1099-R. State Filing Requirements | Forms Form-1099-MISC (Non-GAAP) E-File Form 1099 (Non-GAAP) I am a corporation and I want to file Form 1099 for a corporation that pays for employee compensation through payroll deductions. Is that reportable? As a corporation, you must file your Form 1099-Misc with tax preparers. However, you must determine whether to file Form 1099-MISC by conducting a complete tax audit. To determine whether to file Form 1099-MISC with the IRS, you must have a complete set of statements from each participant and be able to make a reasonable tax assessment of the income from any individual, partnership, corporation, trust or estate. 1099-MISC Filers with Non-Employee Earnings If you provide nonemployee compensation in addition to wages to the corporation, you may file Forms 1099 for each non-wage payment in addition to W-2G or 1099-R. The forms and instructions will be the same whether the payments are for a wage or for compensation that is in the form of nonemployee contributions to your financial statement or Form 1120S-X. Non-employee contributions can be paid in cash, in shares of your corporation, or in property owned by the corporation, such as real estate or inventory. If you make a Form 1099-MISC for a corporation, it must accompany a complete set of statements from each payee. If you receive a Form 1099-MISC, but don't have a reasonable tax assessment, you can still file an amended return with the corporation that includes the statement that you made the payments. See the IRS Forms 1099-MISC and 1099-R and Form 1120S-X and IRS instructions on Form 965.  The amended return will also include corrected information.

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