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Is there a form to file if a person is receiving cash payments for services rendered?


ANSWER


Expert Michael Lim's Answer:

Yes.  Form 1099-MISC is usually filed to report cash payments made for services rendered (which is considered to be compensation to the receiving individual).  

 

A Form 1099 is required to be filed in all cases where you pay another individual compensation that exceeds $600 in any calendar year.

Michael Lim, CPA

California

16 yrs experience

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