Vendor 1099 Tax Reporting
The University is obligated to report to the Internal Revenue Service (IRS) on Form 1099 all U.S. Citizens and Resident Aliens receiving cumulative remuneration greater than the annual threshold amount of $600. Accounts Payable is responsible for sending the Forms 1099 to the individual and submitting the electronic file of the 1099s to the IRS.
The University will report to the Internal Revenue Service (IRS) on Form 1042-S all Non-Resident Aliens receiving cumulative remuneration. The Tax Department is responsible for sending the Forms 1042-S to the individual and submitting the electronic file of the 1042-S to the IRS.
For more information on international reporting, see Finance's Tax website.
Frequently Asked Questions
A 1099 form is a record of income that an entity or person other than your employer gave or paid you money. The payer (Emory University) fills out the 1099 form and sends copies to the vendor and the IRS.
The IRS Form 1099 is used to figure out how much income you received during the year and what kind of income it was. You'll report that income in different places on your tax return, depending on the type of income.
Many types of people can get a 1099 form for different reasons. For example, independent contractors, freelancers, self-employed and other types of workers who filled out an IRS Form W-9 (or Emory's Supplier Information Form – SIF) at the start of the business relationship often get a 1099-NEC showing their earned income. 1099 forms are issued to these individuals/payees who earn $600 or greater, per IRS regulations.
There are several kinds of 1099 tax forms. The IRS refers to them as “Information returns”. Below are the main 1099 forms that Emory University issues.
| 1099 Type | Description |
|---|---|
| 1099-MISC | Used to report nonemployee earnings from incomes streams like, royalties, rents, prizes, and awards |
| 1099-NEC Nonemployee Compensation | Used to report non-employee compensation. |
The University must mail these forms by the last day of January after the tax year.
Please email Accounts Payable at emory.fsc@emory.edu to request a copy.
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