Do I need to file both W-2 & 1099-MISC Forms?
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Last modified 6/10/2020 4:58:33 AM EST
You must file Form W-2 if you have a full-time employee working for your business, to report their annual wages and amount of taxes withheld from their paychecks. Form 1099-MISC must be filed to report payments for contractors (treated as a non-employee) you hire for your business for expenditures not directly related to your business like rents, lawyer payments, royalties, lottery, etc.