|
Note: The facts and circumstances of each situation will ultimately determine the filing requirements.
|
| Form |
Title |
What to Report |
Amounts to
Report |
Report to
IRS by: |
Report to
Recipient by: |
| W-2 |
Wage & Tax Statement |
Wages, tips, other compensation, social security, Medicare, withheld income taxes.
See Publication 15 for additional info. |
See form instructions. |
Only to SSA. |
January
31 |
| W-2G |
Certain
Gambling
Winnings |
Gambling winnings from horse racing, dog racing jai alai, lotteries, keno, bingo, slot machines, etc. |
Generally, $600 or more.
$1200 or more from bingo or slot machines.
$1500 or more from keno. |
February
28 |
January
31 |
| W-3 |
Transmittal of Wage & Tax Statements |
Used to transmit Copy A of Forms W-2, Wage & Tax Statement. |
Summary of W-2 amounts. |
February
28 |
N/A |
| 945 |
Annual Return of Withhold Federal Income Tax |
Federal tax withheld on Forms 1099 and W-2G must be reported on Form 945. |
All amounts withheld from nonpayroll payments. |
January
31 following the tax year
(or by
Feb. 10, if deposits were timely paid in full for the year). |
N/A |
| 1096 |
Annual Summary & Transmittal of U.S. Information Returns |
Used to transmit paper Forms 1098, 1099, 5498, and W-2G. |
Summary of Forms 1098, 1099, 5498, and W-2G amounts. |
February
28 |
N/A |
| 1098 |
Mortgage Interest Statement |
Mortgage interest (including points) you received in the course of your trade or business from individuals & reimbursements of overpaid interest. |
$600 or more. |
February
28 |
To Payer or Borrower by January 31 |
| 1099-C |
Cancellation of Debt |
Cancellation or discharge of a debt owed to a financial institution, Federal Govt, credit union, etc. |
$600 or more. |
February
28 |
January
31 |
1099-
DIV |
Dividends & Distributions |
Distributions (such as dividends), capital gain distributions, or nontaxable distributions, that were paid on stock & liquidation distributions. |
$10 or more, except $600 or more for liquidations. |
February
28 |
January
31 |
1099-
INT |
Interest Income |
Interest Income. |
$10 or more ($600 or more in some cases). |
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Gaming prizes and awards, tournaments with no entry fee, non employee compensation (e.g. entertainers, bus companies, and other vendors). |
$600 or more |
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Pow Wow prizes, per capita and other gaming distributions to tribal members. |
$600 or more |
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Rent or royalty payments, prizes & awards that are not for services, such as winning on TV or radio shows.
|
$600 or more, except $10 or more for royalties.
|
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Payments to crewmembers by owners or operators of fishing boats, including payments of proceeds from sale of catch.
|
All amounts. |
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Payments to physicians, physicians' corporation, or other supplier of health & medical services (including drug testing).
|
$600 or more. |
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Payments for services performed for a trade or business by people not treated as employees.
|
$600 or more. |
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Fish purchases for cash.
|
$600 or more.
|
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Substitute dividend & tax-exempt interest payments reportable by brokers.
|
$10 or more.
|
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Crop insurance proceeds.
|
$600 or more. |
February
28 |
January
31 |
| 1099-MISC |
Miscellaneous Income |
Gross proceeds paid to attorneys.
|
All amounts. |
February
28 |
January
31 |
| 1099-R |
Distribution from pensions, annuities, retirements, IRAs, etc. |
Distributions from retirement or profit-sharing plans, any IRA, or insurance contracts, and IRA recharacterizations. |
$10 or more. |
February
28 |
January
31 |
| 1099-S |
Proceeds from Real Estate transaction |
Gross proceeds from the sales or exchange of real estate. |
Generally, $600 or more. |
February
28 |
January
31 |
FinCEN
Form
104 |
Currency Transaction Report |
Each deposit, withdrawal, exchange of currency, or other payment or transfer by, through, or to financial institutions (other than casinos). |
Over $10,000. |
15 days after date of transaction. |
Not required. |
| 5754 |
Statement by Person Receiving Gambling Winnings |
Amount of gambling winnings you received for someone else or as a member of a group of winners on the same winning ticket. |
Name, taxpayer ID, address, amount won, & winnings from identical wagers for each winner. |
N/A. |
To be given to payer of winnings. |
| 8027 |
Employer's Annual Information Return of Tip Income & Allocated Tips |
Large food and beverage establishments when the employer is required to make annual reports to the IRS on receipts from food or beverage operations and tips reported by employees. |
If applicable, form must be completed using the employer's records of tips. |
February
28 |
N/A |
| 8300 |
Report of Cash Payments Over $10,000 Received in a Trade or Business |
Payment in cash or foreign currency received in one transaction, or two or more related transactions, in the course of a trade or business. Does not apply to those required to file Form 4789; casinos required to file Form 8362; or, generally, transactions outside of the U.S. |
Over $10,000 |
15 days after date of transaction |
To Payer by January 31 |
FinCEN
Form 103 |
Currency Transaction Report by Casino (CRTC) |
Each transaction involving either currency received (cash-in) or currency disbursed (cash-out) of more than $10,000 in a gaming day. |
Over $10,000. |
15 days after date of transaction. |
N/A |
