Instructions for  
Form 1099-MISC - Introductory Material


Future Developments

For the latest information about developments related to Form 1099-MISC and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form1099misc.

What's New

Corrections to Form 1099-MISC.   A new paragraph has been added to these instructions regarding corrections to Form MISC.

FATCA filing requirements of certain foreign financial institutions (FFIs).    Beginning in 2014, an FFI with a chapter 4 requirement to report a U.S. account maintained by the FFI that is held by a specified U.S. person may satisfy this requirement by reporting on Form(s) 1099 under the election described in Regulations section 1.1471-4(d)(5)(i)(A). Additionally, a U.S. payor may satisfy its chapter 4 requirement to report such a U.S. account by reporting on Form(s) 1099. See Regulations section 1.1471-4(d)(2)(iii)(A). Form 1099-MISC is among the Forms 1099 used for such purpose. A new check box was added to Form 1099-MISC to identify an FFI filing this form to satisfy its chapter 4 reporting requirement.

Medicaid waiver payments.   Certain Medicaid waiver payments may be excludable from income as difficulty of care payments (see Difficulty-of-care payments, later). For more information, see Notice 2014-7, available at www.irs.gov/irb/2014–4_IRB/ar06.html, and Medicaid waiver payments frequently asked questions (FAQs), available at www.irs.gov/Individuals/Certain-Medicaid-Payments-May-Be-Excludable-From-Income.

Reminder

In addition to these specific instructions, you should also use the 2015 General Instructions for Certain Information Returns. Those general instructions include information about the following topics.

  • Who must file (nominee/middleman; certain FFIs and U.S. payors that report on Form(s) 1099 to satisfy their chapter 4 reporting requirements).

  • When and where to file.

  • Electronic reporting requirements.

  • Corrected and void returns.

  • Statements to recipients.

  • Taxpayer identification numbers.

  • Backup withholding.

  • Penalties.

  • The definitions of terms applicable for chapter 4 purposes that are referenced in these instructions.

  • Other general topics.

You can get the general instructions from www.irs.gov/form1099misc or by calling 1-800-TAX-FORM (1-800-829-3676).


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