IRS Federal Tax Form 1099 Instructions 2009 2010 Free Download 1099a 1099c 1099div Misc Reporting

Submitted by Godmode on Thu, 01/14/2010 - 15:34.

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• Taxes

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2009 2010 Tax Season is upon us. Its time to start filing our Federal Income Taxes and State Income Taxes from Jan 15 2009. Lot of americans often gets confused with What they need to report in 1099 or 1099a or 1099r forms. Today we look at How to file a 1099 Form and Who should file a 1099 Form. Of course, you would be able to Free download 1099 forms.

Who must file a IRS 1099 Form?
1) Nominee or middleman returns: If you receive a Form 1099 for amounts that actually belong to another person, you are considered a nominee recipient. You must file a Form 1099 with the IRS (the same type of Form 1099 you received) for each of the other owners showing the amounts allocable to each. You must also furnish a Form 1099 to each of the other owners. File the new Form 1099 with Form 1096 with the Internal Revenue Service Center for your area. On each new Form 1099, list yourself as the "payer" and the other owner as the "recipient." On Form 1096, list yourself as the "filer." A husband or wife is not required to file a nominee return to show amounts owned by the other. The nominee, not the original payer, is responsible for filing the subsequent Forms 1099 to show the amount allocable to each owner.

2) Widely held fixed investment trusts (WHFITs).Trustees and middlemen of WHFITs are required to report all items of gross income and proceeds on the appropriate Form 1099.

There are many other reasons you should file a 1099, Contact your Tax Preparer or use a IRS E-file Service which will ask you Interview Questions and appropriately guide you in Form 1099 Filing process.

What is the deadline for filing 1099 Tax form?
If you are filing 1099 on Paper then File by March 2 2010 or if filed via E-file then by March 31 2010.

What is a 1099a Form? Who should file 1099a?
File Form 1099-A is for Acquisition or Abandonment of Secured Property, for each borrower if you lend money in connection with your trade or business and, in full or partial satisfaction of the debt, you acquire an interest in property that is security for the debt, or you have reason to know that the property has been abandoned. You need not be in the business of lending money to be subject to this reporting requirement. In case of Cancellation of Debt, for the same debtor, You may file Form 1099-C only.Multiple owners, Governmental unit, Subsequent holder and Multiple lenders are required to file 1099a Tax Form. Please note for 1099a and 1099c, The Creditor's phone number must be provided in the Creditor's information box.

What is a 1099Div Form?
You must file Form 1099-DIV for Dividends and Distributions you paid to each person including,

• Aapital gains dividends on stock of $10 or more.
• For whom you have withheld and paid any foreign tax on dividends and other distributions on stock
• For whom you have withheld any federal income tax on dividends under the backup withholding rules, or
• To whom you have paid $600 or more as part of a liquidation

FREE Download of 1099 and 1099a, 1099c Tax Forms:
1099a Tax Form
1099c Tax Form
1099r Tax Form

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IRS Form 1099 FREE Download Instructions

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