1099-MISC is one of Form 1099 used to report miscellaneous income. One notable use of Form 1099-MISC is to report amounts paid with a business (including nonprofits) to a non-corporate US resident independent contractor for services such payments are nonemployee compensation). The ubiquity of form 1099 has also to use of the phrase “1099 workers” or “the 1099economy” to to the independent themselves. Other uses of Form 1099-MISC include (local rental, rental and nightly rental) income, royalties.
The form is issued by the payer (e. g. business) due to the recipient (e. g. contractor) by January 31, the IRS by the last day March, for box 7 deadline January 31st, each year for work done during the previous tax year. The payer has to file form 1099 electronically with the IRS the deadline for filing with the IRS is March and for box 7 deadline January 31st.