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Video instructions and help with filling out and completing Where To Send Irs Form 966

Instructions and Help about Where To Send Irs Form 966

Hello, this is Delia, and today I am going to be talking about how to fill out the 1099 miscellaneous forms or 1099 miscellaneous forms. Now, a lot of times when you've hired a contractor to do some work, you sign a contract, you ask them to do a certain amount of work, they finish it up, you pay them off, and off you go. Well, at the end of the year, you should really be filling out these 1099 forms to tell the IRS how much you paid them. These forms don't really record any taxes. You're not paying them taxes. You're hoping that they'll pay their own taxes. You check their credentials, their illegal operation, they pay their own taxes. Here, you're just reporting what you paid them, and that's kind of what I'm focused on today. You could fill out a whole bunch of tax information here as well, but just for hiring contractors, you're just reporting what you paid them. It has nothing to do with taxes. They deal with the taxes. So, the first thing before you can even fill this out is to have your contractor, or whoever, your piano teacher, etc., fill out the Form W-4 form. And this, basically, they only have to worry about tax deductions or what have you. They just want you're after is their name, address, and their social security number or their tax ID number. So, this is what you want to ask them to fill out before they do any work for you. And just to kind of tell you what you're up against in general, if you pay somebody more than, let's say, three or six hundred dollars, you should really have them fill this out. And legally, just like for contractors, if you fill...