Taxes

Advice on 1096 Tax Form

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Q: I received a 1096 tax form in the mail, and i dont know why.?
I am not an independent contractor, does this form have anything to do with unpaid student loans? loan is in default
it was sent by the IRS, and was a blank form the only information of mine was my address.

A: Was the form filled out or was it a blank one meant for you to fill out?

In either case, it sounds like this is some sort of mistake. A 1096 form is usually filled out by a company that gives 1099 forms to their employees. The form is then sent by the company directly to the IRS.

Is any of the information on the form already filled in? Is it your information? Did you get any kind of cover letter with the form?

Q: what is a 1096 and a 1099 tax form for ?
I have a friend who received a 1096 form and doesn’t know why . So we thought we’d ask yahoo/answers . I do know a 1099 is involved some how.

A: If you pay your workers as independent contractors rather than as employees, you need to issue 1099s to any worker you paid $600 or more. When you file your 1099s which are due by January 31 just like W2s, you file the 1096 as a totals page. Attach the 1096 to the originals of the 1099s you file for that year.

Q: Where do Isend a 1096 tax form to for our business?

A: At the bottom of the form (you cannot cut the top off) and the top of page two it shows the filing addresses.

Address the letter:

INTERNAL REVENUE SERVICE CENTER
and then depending on the state your company is located in get the address from the form.

Here is the link to the form/instructions from the IRS website (www.irs.gov)

http://www.irs.gov/pub/irs-pdf/f1096.pdf

Q: 1096 Tax Form from IRS? ?
The IRS sent us a 1096 tax form in the mail for us to fill out a few days ago. What is this form for? Are we being audited?
I just checked and we filled one out last time when we did taxes in April and I believe that was for 07. Now this one they sent us is for 08.

A: A 1096 is a cover sheet for 1099 form.

The typical taxpayer doesn’t fill one out unless they were a nominee, say co-owner of a joing bank account.

Q: Is there a CA State Tax equivalent to the Federal Form 1096?
I am a sole proprietor and have to file 1099-Misc for contractors that work for me. For Federal taxes, I submit a Form 1096 along with the 1099’s. But what do I do for the California State Tax Board? Is there a form I send in along with the 1099’s?

A: Many years ago, the California Franchise Tax Board collected their version of Federal Forms 1099. In California, Forms 599 were transmitted with Form 596.

More recently, in an effort to save paper, California ceased collecting those information returns. They get the information reporting from the Internal Revenue Service.

How are things in my Home State of California?

Phillip S Foster CPA
Dave Ramsey Endorsed Local Provider

http://www.phillipfostercpa.com/tax.html

Q: Do I need to file a 1096 IRS tax form?
… if my company did not hire any contractors in 2009? Do I fill it out with $0 reported, or can I just not file at all? I did file one in 2008 for this company when I had 1 contractor.

A: if you are not issuing any 1099’s you don’t submit a 1096(it is a sort of cover letter for the 1099s)

Q: Tax Question: On form 1096 can i deduct line 1? Or, Where can i go online to find answers to this question?

A: IRS.gov has many, many publications available that are loaded with all kinds of information.
It may take a little time to find the answer you are looking for, but it is worth reading the publications, as you can learn a ton about your federal income tax return.
When you go to IRS.gov, look at the top right corner of your computer screen & there will be a search box. Try typing in “Form 1096″ first, to see what information you get. If you don’t find what you are looking for try another KEY word that might get you the information you need. Otherwise, I would suggest calling the IRS’ direct line…(let’s see)…
The number is; 1-800-829-1040, which is designated for all your tax questions.
Prior to filing your taxes, always check out PUBLICATION 17 each year, for new changes. You can find most information in this publication & you can either receive it from your local IRS office, or you can call: 1-800-829-3676 & they will send you any publication via your request. GOOD LUCK & I hope you find the answer you are looking for. I hope this helped.

Q: 1096 tax forms?
Does anybody know where to send them in the state of NJ?
I need the address or phone number.

A: All information returns filed on paper if your are located in New Jersey is:

Department of the Treasury
Internal Revenue Service Center
Austin, TX 73301

Q: Which tax forms should I fill out for my business?
I started a business in Sept. of 2006. I am the sole proprietor. The business has its own tax number. I do not draw earnings from this. I want to file this seperately from my personal taxes. I already filed my 1099 & 1096 for my independent contractors. Which forms should I fill out to report my earnings and expenses?

A: You should try to register this business as a partnership or a corporation if you want to file separately from your personal taxes. As a sole proprietor you are responsible to pay the taxes on the business’ earnings whether you receive payment or not on your 1040. Other answers said you would need to file a schedule C, this is correct, to pay the income tax on those earnings it will be reported on schedule C, however you are also responsible for the SS tax on those earning, which you file on schedule SE.

Q: How do I file my hand written 1099-MISC forms and my 1096 form with the IRS? (I am the employer)?
I gave 2 different independent contractors 1099-MISC forms for work done in 2007.

What do I submit to the IRS?

Do I submit the 1099-MISC and the 1096 form both together in the same envelope to the IRS?
Which parts of the 1099-MISC go to the IRS?

If my state has NO state tax, what do I do with the form that says “For state tax department” ?

Please be VERY specific…I am new to this.

Thanks in advance!!!

A: Copy A of the 1099-MISC goes with the 1096 form to the IRS in the same envelope. In box #3 of the 1096, put the total number of forms (2). In box 4 enter the federal tax you withheld from the independent contractors (if any). In box 5, add together both 1099-MISCs and enter the total in this box. In box #6, mark the box that says “1099-MISC”. Sign and date the return (making sure you filled in your name, address, EIN, etc)

Copy B of the 1099-MISC gets sent to the independent contractors

Copy C is for your records.

If there is no state tax, then you don’t need to worry about that form.

Good luck. You can email me with additional questions if you wish.

Q: Tax forms confusion for small business owners! need help! ?
We own a small business in maine. He has 2 employees and one subcontractor. Is it correct that he needs to give the sub a 1099 for the year? Do we send the 1096 form (got it in the mail) to the IRS with the 1099?
Also we have someone do our payroll, they sent us copies of W-2s from the employees. Do we need to send them in somewhere or does the payroll companies usually do that?

A: Yes – you give the subcontractor his copy of the 1099, and you keep a copy, and then you mail the IRS copy of the 1099 in along with the 1096.

If they payroll company just sent you the employer copies of the W-2’s – then they’ve already mailed the W-2’s to the employees. The payroll company has taken care of the reporting to the IRS. That’s what you pay them for.

You could ask your employees to let you know if they don’t arrive.

Q: Taxes: If I got a form 1098-T due i need to file a 1096?
What does it mean that it is a transmittal document
Do not due…DOH

A: This is the transmittal form used to report all 1099 and 1098 forms to the IRS (by the company that issued them, not the person who received them).

They were due to the IRS by 02/29/08.

If you received this 1098-T from a school where you paid tuition and educational expenses, then you may be able to take one of the two education credits on your 1040. You do not have to file a 1096.

Q: What form do I use for my business?
I started a business in Sept. of 2006. I am the sole proprietor. The business has its own tax number. I do not draw earnings from this. I want to file this seperately from my personal taxes. I already filed my 1099 & 1096 for my independent contractors. Which forms should I fill out to report my earnings and expenses? And, Can I file it in just the company’s name and just use my name as the owner/contact. I do not want this to be affiliated with my personal taxes. (I work a full time job that I claim as my income) Can I do This?

A: Apparently you didn’t like the answers to your previous question.

Even thought the business has a separate tax id, if it is a sole proprietorship, you file a Schedule C showing the income and expenses. The schedule C goes along with your 1040.

If you didn’t want this income associated with your personal return, you should have formed a corporation back last year. Unfortunately, it is too late now for the 2006 data.

Q: Whats this mean for Form 1098-t? Thanks?
I go to a state university and I recently recieved a form 1098-t in the mail from my school. In box 2 for the “amount billed for qualified tuition and related expenses” I got $4,669.00

I’ve been reading up on 1096-t and form 8863 etc.. but I still can’t understand it to well. Does this mean my parents (I’m stil dependent) qualify for some kind of education credit on their taxes for $4,4669?

And would I have to file some kind of tax form for this even though I don’t have a job?

Thanks

A: this is for an Education credit. if your parents claim you (and i’m not going to assume like everyone else cause I dont know your situation) but if they do then they need this form. they’ll get a credit on their taxes for paying your tuition or if you paid it i’d make them give it to me!!! hahaha…

Q: If I had a babysitter last year, and paid cash, no deductions, what form do I file with the IRS?
I heard its the 1096 and then the IRS sends the babysitter the form 1099, but I’ve also heard that I would just put this as an itemized expense, and the babysitter would use a Schedule C, and this would be susceptible to self employment tax.

A: How would the IRS know to send your babysitter a 1099 if you paid them in cash? Child and dependent care expenses help you on your taxes, so I suggest that you claim as much as you can.

Here’s a link to an irs.gov site that hopefully explains what to do – 4th question down.

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