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General
Instructions for
Certain Information Returns
(Forms 1097, 1098, 1099, 3921, 3922, 5498,
and W-2G)
P. Payments to Corporations and Partnerships
Generally, payments to corporations are not
reportable. See Regulations section 1.6049-4(c)(1)(ii). However, you
must report payments to corporations for the following.
Medical and health care payments (Form 1099-MISC)
Withheld federal income tax or foreign tax,
Barter exchange transactions (Form 1099-B),
Substitute payments in lieu of dividends and tax-exempt interest
(Form 1099-MISC),
Acquisitions or abandonments of secured property (Form 1099-A),
Cancellation of debt (Form 1099-C),
Payments of attorneys fees and gross proceeds paid to attorneys
(Form 1099-MISC),
Fish purchases for cash (Form 1099-MISC),
The credits for clean renewable energy bonds, Gulf tax credit
bonds, and other qualified tax credit bonds treated as interest and
reported on Form 1099-INT,
Merchant card and third-party network payments (Form 1099-K), and
Federal executive agency payments for services (Form 1099-MISC).
For additional reporting requirements, see Rev. Rul. 2003-66 on page
1115 of Internal Revenue Bulletin 2003-26 at
www.irs.gov/pub/irs-irbs/irb03-26.pdf.
Reporting generally is required for all payments to partnerships.
For example, payments of $600 or more made in the course of your
trade or business to an architectural firm that is a partnership are
reportable on Form 1099-MISC.
Credit:
http://www.irs.gov/pub/irs-pdf/i1099gi.pdf |
