1099 Form

There are many different 1099 forms – 16, to be precise, as of 2014. They all serve the same general purpose, which is to provide information to the Internal Revenue Service (IRS) about certain types of income from non-employment-related sources. The payers of these types of income must send one copy of form 1099 to the IRS and another copy to the recipient of these payments (in other words, the taxpayer). They should also send a copy to the recipient’s state tax agency and keep a copy for their own records—Read more at Investopedia. Fontinelle, Amy. “The Purpose Of 1099 Forms.” 25 August 2014.