2013 Form 1099s are in the mail. You should receive your form 1099s shortly. Here’s what to expect.
What is a 1099 Form?
A 1099 is a form that is used to report taxable income you earn aside from your regular salary or wages. A few examples of income types that a 1099 may report (and the 1099 forms used) include:
When Do I Use a 1099 Form?
You should receive a 2013 1099 if you have any income from the above sources, although if you earn less than $10 in interest from a financial institution during the tax year, you will most likely not receive a tax form 1099.
You’ll get a 1099 MISC if your miscellaneous income is over $600; business will collect your tax information for the 1099 MISC using a Form W9.
How Do I Get My 1099 Forms?
If your form 1099 is coming from money you have earned from investments or savings, your financial institution must mail 2013 1099 forms by January 31.
If you have earned side income from an employer outside a typical salaried position, your employer should provide you with your 1099, again by they January 31 mailing deadline.
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What do you do if you don’t receive all the 1099s that you know you should?
You can contact your financial institution to inquire about it. They should be able to help.