Practical Law Glossary Item 0-503-2331 (Approx. 2 pages)
Glossary
IRS Form 1099-MISC
A statement of miscellaneous income provided by a company during a calendar year to certain individuals and service providers, including independent contractors and non-employee directors. Payments reported on an IRS Form 1099-MISC include:
Compensation paid to independent contractors.
Director fees.
Health care services to non-employees.
Prizes and awards valued at $600 or greater (but excluding prizes and awards paid to employees).