If you are required to file or more information returns, you must file electronically with the IRS. Electronic filing can be easily accomplished with accounting software such as Quicken and QuickBooks.
There are also several websites that provide filing services. Payroll tax services can also file these forms for you.
Independent contractors must be provided with a paper copy of the MISC unless they agree to accept an electronic version. Because it is a multi-part form, you need an original copy, which you can obtain from the IRS or stationery or office supply stores. This relieves you of an administrative burden, so you may prefer to pay independent contractors electronically.
This depends on how much the contractor was paid and how many electronic transactions there were during the year. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service.
Please reference the Terms of Use and the Supplemental Terms for specific information related to your state. Grow Your Legal Practice. He has also appeared on the Oprah Winfrey Show and is the author of two books. Tax refunds may be delayed due to shutdown. Ray Martin. Please enter email address to continue. Please enter valid email address to continue. Know what tax documents you'll need upfront Get started. Learn what education credits and deductions you qualify for and claim them on your tax return Get started.
The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Skip To Main Content. Independent contractor income If you are a worker earning a salary or wage, your employer reports your annual earnings at year-end on Form W Government payments The federal and state governments are equally responsible for reporting income that it pays to taxpayers.
Withdrawals from a retirement account When you withdraw money from your traditional IRA, in most cases it is taxable. Perfect for independent contractors and small businesses Find more tax deductions so you can keep more of the money you earn with TurboTax Self-Employed. State additional. Looking for more information?
Get more with these free tax calculators and money-finding tools. Stimulus Check Calculator See if you qualify for a third stimulus check and how much you can expect Get started. This will save you a lot of headaches next January so you don't have to track down their mailing addresses or EINs. The good news: Most accountants will provide this service affordably and efficiently for you during the month of January so you can stay focused on your New Year's resolutions and making money rather than filling out paperwork.
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