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2022 IRS 1099-MISC Lowell Massachusetts: What You Should Know

Sign under penalties and perjury. Allowed forms of backup withholding include: Form 5498; Form 8802; and IRS Form 5622 which also allows the employee to file Form 1099. See the details on Form 5498 below for more information. Form 8655 (Backups for Employees with Tax-Exempt Positions and Certain Other Taxpayers Not Subject to Backup Withholding). If you have a business and are paid on a salary, a Form 1099 for each pay period will be a backup withholding tax due if you do not have a Form 1099-MISC for each pay period. You can also use Form 8641.  A Form 1099-MISC is filed for the pay period in which the backup withholding tax was paid. If the backup withholding is more than 400 in any tax period, you will have to file an additional Form 1099-MISC for each withholding period. If the backup withholding exceeds 400 per pay period, then the payer must report the tax to the IRS as early as possible for tax administration purposes and the payer is responsible for any backup withholding tax or penalty. The payer should notify the IRS of the backup withholding each year. You can file Form 1094-B in lieu of 1099-MISC for additional pay period backup withholding tax. Back to Top Information about Form 1099-MISC, Miscellaneous Income — IRS. Instructions for Form 1099G for Certain Information Returns (2023) — IRS. Do not file this form if you are subject to backup withholding on Forms 1099 and W-2G.

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