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Form 1099-MISC Illinois: What You Should Know

The taxpayer must meet the following requirements: The taxpayer must provide a Form 1099-MISC to each person whose total wages attributable to the company for the year exceeded 50% of the corporate total wages for the year, regardless of the source of those wages. In the case of a partnership, the reporting requirement does not apply where both partners receive the same share of salary or wages from the company, based on the gross pay received by each partner in a given year from all classes of the partnership. Example 1.  Kinder hook Health Care, Inc., a partnership, is a taxpayer. The partnership is a C Corporation. Each partner of the partnership earns 50,000 in gross monthly wages and  Kinder hook Health Care, Inc. makes a total payment of 50,000 to an employee and to an employee's spouse. In this example, the partner must file Form 1099-MISC for the partnership's annual wages of 50,000 (50,000 wages and 2,000 wages and 50,000 interest) and 5,000 (the amount of any bonuses) to each spouse. See the discussion below for the application of the reporting requirements to partnerships. For more details about filing a Form 1099-MISC or determining whether you are required to file one, see the IRS' page on 1099-MISC: IRS Filing Requirements for 1099-MISC. For information about filing and storage requirements for Forms 1099, see Publication  For information on Form 1099, see Publication  1099 1099 Form Requirements The following are the Form 1099 reporting requirements for an employer of a noncorporate service provider. 1099-Misc Filing Requirements of Employers of Noncorporate Service Providers A partnership requires you to file Forms 1099-MISC as part of the partnership's information return for your noncorporate service provider partners. In this example, you must report a total payment for a company by an employee (50% of this corporation's gross pay) and to an employee's spouse (50,000). Form 1099-MISC must be filed with one of the following: Form W-2 If your partner reports 50,000 in gross income (from any source) to you for any of the previous 4 calendar years, you do not need to file a Form 1099-MISC for that year.

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