What is an independent contractor form 1099-MISC?

Modified on Tue, 20 Dec 2022 at 02:18 PM

The 1099-MISC Form is similar to the W-2 Form, in that it reports income to a worker and the IRS. The difference is that the 1099-MISC Form is used by organizations that pay contractors or freelancers $600 or more during a calendar year. Whereas employers deduct taxes from your income and report it along with your income on a W-2, clients who hire you as a contractor don't make any deductions, but still report what they paid to you on the 1099-MISC Form.

 

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