NMU's Compliance Database - Northern Michigan University
Independent Contractors 1099-MISC - Copy A
| Reviewed By | Internal Auditor Owner |
| Regulation Reference Cite | 26 U.S.C. §§ 3401-3406 |
| Report Due Date (Actual) | 02/28/2018 or E-File 03/31/2018 Annual |
| Level | Compliance Report |
| Oversight Unit | CONTROLLERS OFFICE |
| Person Responsible | Courtney Specker |
| Secondary Person Responsible | Rebecca Schneiderhan |
| President / VP Level | Finance |
| Description |
Form 1099-MISC must be filed with the IRS if the employer makes payments to independent contractors in the amount of $600 or more during the year. Copy B and Copy 2 are for the independent contractor and must be provided no later than Jan. 31. Copy A must be filed with the IRS no later than Feb. 28, or March 31 if you file electronically. If an employee is mistakenly classified as an independent contractor and the employer has no reasonable basis for doing so, the employer may be held liable for employment taxes for that worker. In order to qualify as independent contractors, the individual would need to meet the Internal Revenue Service (IRS) requirements. The IRS regulatory definition of employee is set forth in 26 C.F.R. § 31.3401 (c) -1(b). |
| Contacts and Data Sources |
| Vendor Payables Office |
| Internal Notes |
| This compliance item has notes that are available internally to the oversight unit. Please contact the Risk Management Department for more information |