What are 1099-MISC forms and does my business have to file them?
A business must file a 1099-MISC for each contractor or vendor to whom you paid at least $600 via cash or check in a calendar year.
In order to complete a 1099-MISC, you will need the legal name, SSN or FEIN, and address for the vendor or contractor. All of this information is collected on a form W-9. A good practice to implement is to require each contractor or vendor that you work with to complete a form W-9 prior to cutting their first payment. This will make the 1099-MISC process much smoother for you.
The filing deadline is January 31, 2019. There are stiff penalties for late and non-filing, so it is important to ensure that your business is properly tracking and filing these forms.