Understanding 1099 Tax Forms
What are 1099 tax forms?
What are 1099 tax forms?
1099 forms are used to report income you have earned that is not reported on a Form W-2. This could be from freelance work, side gigs, or contract work. These forms are filed with the IRS and sometimes with your state's tax department.
What is a 1099-NEC tax form and do I need to file one?
What is a 1099-NEC tax form and do I need to file one?
Tax form 1099-NEC (Non Employee Compensation) is used to report payments of $600 or more. (Some states may require reporting for lower amounts.) Payments include fees, commissions, prizes and awards for services performed as a non-employee, and other forms of compensation for services performed to a trade or business.
If you are a freelancer or contractor (who is not exempt) and you have received more than $600 from a company this year, the company as the payer will file a 1099-NEC tax form to the IRS. You will get a copy of this form for your taxes.
If you've paid contractors more than $600 this year, then you as the payer will need to send a 1099-NEC form to the IRS for each contractor.
Will I receive a 1099-NEC tax form?
Will I receive a 1099-NEC tax form?
If you are a freelancer or contractor (who is not exempt) and you have received more than $600 from a company this year, you will receive a 1099-NEC tax form.
If you made less than $600 this year, you might not get a 1099 form. However, if your state requires a form for less than $600, you might still receive one.
If your business entity type is S-Corp or C-Corp, you typically won't receive a 1099 form.
What if I made more than $600 but didn't receive a 1099-NEC tax form?
What if I made more than $600 but didn't receive a 1099-NEC tax form?
You may not receive a 1099-NEC tax form if:
Your email address on file is incorrect, missing, or unable to receive email
Your payer decided not to file a 1099-NEC for you
Your entity is an excluded federal tax classification (S-Corp, C-Corp, etc.)
What is a W-9 form?
What is a W-9 form?
A W-9 form is used to collect tax identification information from non-employees such as freelancers or independent contractors in the U.S. For 1099-NEC filing, the payer uses the W-9 to gather the recipient's name, address, and Taxpayer Identification Number (TIN). The form includes fields for the individual's or entity's name, Federal Tax Classification, and contact details. The W-9 is not sent to the IRS; it's for the payer's records to correctly complete the 1099-NEC tax form. Wingspan collects this information digitally on behalf of the payer.
1099 Tax Forms on VGCM
When will I receive my 1099-NEC tax form?
When will I receive my 1099-NEC tax form?
If you have completed your tax verification and are eligible, you will receive your 1099-NEC tax form electronically or postmarked by January 31st. Make sure your name, address, and Taxpayer Identification Number are correct in VGCM.
How will I know when my 1099-NEC tax form is ready?
How will I know when my 1099-NEC tax form is ready?
If your delivery preference selection was electronic (paperless), Wingspan will email you instructions as soon as it's ready to view and download, usually by January 31st following the tax year. For postal (mail), you will receive your tax form via USPS postmarked by January 31st following the tax year.
How will I receive my 1099-NEC tax form?
How will I receive my 1099-NEC tax form?
During setup, you can choose your delivery preference to receive your 1099-NEC tax form electronically (paperless) or via postal (mail).
VGCM cannot send 1099-NEC PDFs via email. Contractors must access forms through their VGCM portal or request a mailed copy.
What if I want to change my delivery preference?
What if I want to change my delivery preference?
Please visit our guide on changing your delivery preferences for more information.
How do I access my 1099-NEC tax forms?
How do I access my 1099-NEC tax forms?
What should I do if I stop working with the payer mid year?
What should I do if I stop working with the payer mid year?
If the payments you received from the payer exceeds $600, and you are not excluded, you will receive a 1099-NEC tax form. Please check with your payer if you do not receive an invitation to create an account with VGCM. For previous years' 1099s filed through other methods, contact your payer directly.
How can I see the payments that were included on my 1099?
How can I see the payments that were included on my 1099?
You can see the payments included on your 1099 and download a CSV of those payments within the VGCM platform by following our guide on 1099-NEC total amounts.
I downloaded my form. Now what do I do with it?
I downloaded my form. Now what do I do with it?
The 1099-NEC tax form is your tax record to file your annual tax returns. We recommend you seek a tax professional for additional questions regarding taxes.
1099 Tax Form Corrections
What if my information has changed?
What if my information has changed?
You can update your information in VGCM by following the instructions in our guide to requesting 1099-NEC corrections.
What if there's a mistake on my 1099-NEC tax form?
What if there's a mistake on my 1099-NEC tax form?
If you discover an error on your 1099-NEC tax form, you can submit a correction request to your payer. To understand what can be corrected and how to make corrections, please visit our guide to requesting 1099-NEC corrections.
What if I don't agree with the amount on my 1099-NEC tax form?
What if I don't agree with the amount on my 1099-NEC tax form?
If you disagree with the amount on your 1099-NEC tax form, please do the following:
Submit a correction request in the platform. In the request comments, be sure to include the specific payments that should be included or omitted from your 1099-NEC amount. To submit the correction request, follow our guide to requesting 1099-NEC corrections.
Important Note: VGCM Support cannot make these corrections for you; only your payer can do so. After submitting your request in the platform, your payer will be alerted and has sole discretion as to whether to approve the correction.
Common Issues
I'm having trouble logging into my account.
I'm having trouble logging into my account.
If you're having trouble logging into your account, please follow these troubleshooting steps:
Reset Password: Reset your password and create a new password from the link in your email.
Contact your Payer: For your security, VGCM Support is unable to send tax forms over email. Please reach out to your payer directly to confirm the email address they have on file and request a copy of your Tax Form.
Contact VGCM Support: If you're still unable to access your account after confirming the email address on file, contact Wingspan Support. Be prepared to provide identity documentation.
I was not issued a 1099-NEC tax form.
I was not issued a 1099-NEC tax form.
If you have not received a 1099-NEC, it may be due to several reasons. Understanding these reasons can help you determine the appropriate next steps:
Missing Information: You may not have provided your W-9 information to your payer. The W-9 form is essential for the payer to report your earnings to the IRS. Confirm your tax preferences, ensure that your W-9 form is complete and accurate, and then contact your payer to request a 1099-NEC.
Below $600 Threshold: The IRS requires the issuance of a 1099-NEC only if you have earned $600 or more from a single payer in a tax year. If your earnings from the payer are less than $600, you typically will not receive a 1099-NEC, but you are still responsible for reporting this income on your tax return.
Ineligible Tax Classification: Certain business entities, like S-corporations and C-corporations, are not typically issued a 1099-NEC. If your business is classified as an S-corp or C-corp, you generally will not receive a 1099-NEC. Consult with a tax professional for accurate reporting of your earnings.
Non-US Persons: If you are not a U.S. citizen or resident, different reporting requirements may apply. Non-US persons may receive different forms like 1042-S and might need to complete form W-8BEN to certify foreign status. Check with your payer about the appropriate form for your situation.
Contacting your Client/Payer:
In any of these cases, you should directly contact your payer for any queries or requests related to tax forms, as VGCM Support is unable to issue tax forms on behalf of payers.
Remember, regardless of whether you receive a 1099-NEC, you are responsible for reporting all of your income to the IRS. If in doubt, consult with a qualified tax professional.
I am not eligible for a tax form, but I still want to receive a 1099-NEC tax form.
I am not eligible for a tax form, but I still want to receive a 1099-NEC tax form.
Please contact your payer.
I am not eligible for a tax form, but I want to know how much I was paid last year for my taxes.
I am not eligible for a tax form, but I want to know how much I was paid last year for my taxes.
Use the Payments tab in your Tax Documents Dashboard to view your payment history.
You can then review your payments associated with each invoice. If you'd like, you can download a CSV for your records.
I need to find a past 1099-NEC from Wingspan.
I need to find a past 1099-NEC from Wingspan.
Navigate to your Tax Documents Dashboard.
Use the dropdown beside "Tax Documents" to select the relevant year.
Downloading 1099 Form:
If you want a PDF copy of the 1099, select the download option below the 1099 document.
Viewing 1099 Details:
If you choose to view the details of the 1099, you'll see information such as total compensation, any taxes withheld, and payer information.
Getting Additional Help
For platform-related questions, contact VGCM support through your account.
For questions about your specific 1099, contact your payer.