IRS 1099-MISC for South Bend Indiana 2015-2025

IRS 1099-MISC 2025 for South Bend Indiana: What You Should Know

Form 1099-MISC (Rev. January 2022) — IRS The due date for furnishing statements to recipients for Form 1099-MISC is February 15, 2022, if amounts are reported in box 8, if amounts are reported in box 10, and if Form 1099-MISC is used to reduce taxes payable. If no box was checked, the tax year is from 1st to 31st. Form 1099-MISC is to be used for: (1) Distributions from restricted endowment funds and interest. The amount of the distributions may be reportable income or an addition to gross income to the extent it is not includible in gross income. For more information regarding distributions see Form 8949 or 1041X. For additional information on distributions, see Publication 519, Distributions to a Roth, Traditional IRA, or Catch-Up Roth IRA, or Publication 519, Distributions to Retirement Plans—RESP, 403(b), or 457 Plans. (2) Distributions under an IRS forfeiture provision. If you are subject to an IRS forfeiture of or penalty under section 6662 of the Internal Revenue Code for failure to maintain a qualifying balance in an exempt trust or for providing false information in the return form you furnished, the following income will be reportable on Form 1099-MISC. If you fail to maintain the qualifying balance in an exempt trust, report on Form 1099-MISC the gross amount of any distributions made during the time period you failed to maintain the qualifying balance. This amount, however, is only the amount the IRS would have reported as income on your federal income tax return for the previous tax year if distributions were made without any penalty under section 6662 from amounts in the fund. For more information on forfeiture, see Notice 2015-71, and Guidance on Disposition of Property by Nonresidents who Have Filed a U.S. Income Tax Return, which can be found on the IRS website.

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