The 1099-MISC tax form will print with the First and Last Name on line 1. In addition, the IRS requires the use of the owner’s Social Security number on these forms.

Can I use my EIN in place of my SSN?

You can use an EIN instead of an SSN on W-9. You are required to file a W-9 form with any company that pays your more than $600 per annum. The company files the IRS form 1099-MISC and sends you a copy. You are also allowed to file Form 1099-MISC with your SSN or an EIN.

Do LLC S corporations get a 1099?

If your contractor is an LLC that files taxes as a corporation (S Corporation or C Corporation), they are treated as a corporation for tax purposes and this means that they generally do not have to receive a 1099.

What to do if you get a 1099 with your business name?

If they reported the income under your social security number, the best thing would be if they would correct it. If not, you can enter the income as self-employment income on your personal tax return, then enter an expense for the same amount, called Commissions so the two will cancel each other out.

Do you get a 1099 if you are an S corporation?

As an employee of the S corporation, you should be receiving a Form W-2 reporting your wages and withholdings just as any other employee would receive. There is usually NO reason for you to receive a Form 1099 from an S corporation if you have received the W-2.

Can a company be exempt from filing a 1099?

Although Form 1099-MISC is the most commonly used 1099, other forms apply for specific situations. Corporations are not completely exempt in those situations. Cancellation of a corporation’s debt below $600 is exempt but more than that amount requires the submission and filing of Form 1099-C.

What can be reported on a substitute Form 1099?

Brokers that use substitute statements may be able to report customer transactions (stock sales (Form 1099-B), interest earned (Forms 1099-INT and 1099-OID), dividends (Form 1099-DIV), and foreign taxes paid (Forms 1099-DIV and 1099-INT)) for the year on a single substitute statement.