The IRS has required employers to report the following payments on Form 1099-Misc as follows;
- Payments for rental property expenses.
- Payments to a physician, physicians' corporation, or other supplier of health and medical services. Issued mainly by medical assistance programs or health and accident insurance plans.
- Payments for services performed for a trade or business by people not treated as its employees. Examples: fees to subcontractors or directors and golden parachute payments
- Fish purchases paid in cash for resale.
- Crop insurance proceeds.
- Gross proceeds paid to attorneys. (Due to IRS February 15th)
There is a minimum threshold of $600 that needs to be made before employers are required to report these amounts on Form 1099-Misc.