Other Taxable Types of Income

All payments for services rendered made to non-corporate entities including rents and royalties must be reported to the IRS (via form 1099 Misc.) if the payment(s) total $600 or more.

  • Royalty Payments: report gross amount (prior to severance and other taxes which may have been withheld or paid).
  • Prizes and Awards: report prizes, awards, or any other fixed and determinable payments that arenot for services rendered.
  • Non-employee Compensation: report non-employee compensation to include fees, commissions, prizes and awards, or other forms of compensation for services rendered for your trade or business by an individual who is not an employee.

With these types of payments, basic W-4 taxation information is required before a check can be issued. Information needed is your name, home address (not work or school), and social security number.

 

In Plymouth Magazine

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Faculty Forum: Filiz Otucu on Democracy and the Middle East

Filiz Otucu is a professor of political science and specializes in international relations, Middle Eastern politics, and the United Nations. A native of Turkey, she earned her MA at the University of Central Oklahoma, and her PhD from the University of Kentucky. Otucu teaches courses on politics and conflict in the Middle East, terrorism and […]

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Annual Fund Giving Challenge Inspires More Than 430 Donations in 48 Hours

On November 14 and 15, 2015, Plymouth State University hosted its first giving challenge, #PanthersGiveBack. Alumni couple Wally ’62 and Meredith (Bristow) Stevens ’62 made a generous gift and set the goal: If, in 2 days, 240 alumni stepped forward with an Annual Fund gift to any area of the University, the Stevenses would make a […]

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Launching a Rewarding Career at NASA: Patrick Selmer ’12G

Dream big, work hard: this captures Patrick Selmer’s approach to both his education and his career…