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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The Advocate

Staci Keenan ’14 of Jaffrey, NH, was 11 years old and home alone when intruders broke in. Fortunately she was unharmed, but the experience changed her life forever …

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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…

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Samuel Read Hall’s Second Act

The beloved residence hall is enjoying a new life as the campus hub for STEM programming. It’s a transformation that the building’s namesake would have certainly approved …