Below is information about CAN CORPORATE OFFICER RECEIVE 1099 from a variety of sources. Please take a look at the materials that our team has selected for you.
https://www.justanswer.com/tax/191b7-corporate-officer-receive-1099-w2.html
https://forum.thetaxbook.com/forum/discussion-forums/main-forum-tax-discussion/5028-corp-gives-1099-to-officer
It is possible for an officer/shareholder/employee to provide an independent service to the C-corp that is unrelated to his position as an officer/shareholder/employee and therefore receive a 1099Misc. Example would be for legal service by a lawyer, CPA services, Real Estate Sales Commission, etc.
https://keysolutions.us/blog/s-corp-shareholder-employee-form-1099-or-w-2/
You Need to Understand the Tax Consequences When an Owner of S Corp. Improperly Receives a 1099-MISC Fact Pattern: PA resident purchases goods on the Internet that are subject to PA sales tax. The vendor selling the goods on the Internet is not registered with the PA DOR because the vendor lacks nexus in PA.
https://www.avvo.com/legal-answers/as-an-owner-of-a-c-corp-can-my-company-pay-me-with-1357244.html
In general, officers of a company cannot be classified as independent contractors (there is a long line of cases on this point). Let's assume that you don't name yourself president, VP or an officer of your own corporation (which is highly unlikely) -- the IRS may still reclassify "contractor payments" made by your corporation to you as dividends.
https://www.justanswer.com/tax/b4bx7-will-irs-accept-1099-misc-compensation-officer.html
Using an 1099-MISC for an S corporation shareholder is usually not acceptable and not the correct way. The IRS will reclassify all 1099-MISC as wages subject to self employment taxes. If the 1099-MISC is issued (to avoid payroll tax penalties, etc.), the income should be reported on the shareholder's Schedule C subject to self employment tax.
https://rcreports.com/resources/reasonable-compensation-blog/1099-or-w-2-for-s-corp-director-fees/
If you were to look at the issue without a lot of critical thought you might conclude that the Director’s compensation should be reported on a W-2. Your reasoning would be this: In order for the compensation to be reported on a 1099 the Director would need to be independent of the corporation.
https://www.robertschriebman.net/articles/an-officer-of-a-corporation-or-llc-is-a-statutory-employee/
When the EDD selects your company for audit and demands the production of your 1099s for the past three years, you can count on an assessment for unpaid employment and withholding taxes, several levels of penalties, together with interest on both the tax and penalty portions. Taking a 1099 as a corporate officer is just flat out wrong.
https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/owner-wants-to-issue-a-1099-misc-to-himself-in-a-c-corp/00/25240
Owner wants to issue a 1099 MISC to himself in a C Corp. 12-07-2019 03:26 AM. My client is the only officer of a C corp and his former accountant usually reports withdrawals as "contract labor" on 1120, then report it as income on line 12 of his 1040.
https://rcreports.com/resources/reasonable-compensation-blog/1099-or-w-2-for-shareholder-employees-of-s-corps-updated-for-199a/
The IRS will reclassify all 1099 payments made to S Corp owners as W-2 wages. This means that there are several months, sometimes even years of payroll taxes that the S Corp will now have to pay including the following: Back taxes for payroll taxes Interest on payroll taxes Penalties for failure to file quarterly Forms 941
https://www.irs.gov/businesses/small-businesses-self-employed/paying-yourself
Form 1099-MISC or Form W-2 You cannot designate a worker, including yourself, as an employee or independent contractor solely by the issuance of Form W-2 or Form 1099-MISC. It does not matter whether the person works full time or part time. You use Form 1099-MISC, Miscellaneous Income PDF to report payments to others who are not your employees.
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