2021 Instructions for Form 1099-MISC

For 2021 reporting, the title for Form 1099-MISC has been changed form Miscellaneous Income to Miscellaneous Information

Critical Dos and Don’ts with Form 1099-MISC

  • Do report gross proceeds to an attorney (not fees) on Form 1099-MISC.
  • Do complete a 1099-MISC if you made royalty payments of at least $10 during the year.
  • Do use Form 1099-MISC to report personal payments
  • Don’t use Form 1099-MISC to report employee wages; use Form W-2 Instead

Filing and Submitting Form 1099-MISC

  • Distribute to recipients by January 31th, 2022.
  • File with the IRS by February 28th if filing by paper: March 31th if filing electronically.
  • In 2019, the United States Congress enacted the Taxpayer First Act, which has changed employer electronic filing requirement for calendar years beyond 2020. However, until final regulations are issued, the electronic filing threshold remains at 250.

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