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Inglewood California online Form 1099-K: What You Should Know

The form may also be used to report non-W-2 wages that were not received at the time of payment and in the future will be received. For example, the PSO may use a form 1099-K to report payments made by the PSO to the non-PSO for a vehicle lease and future lease payments.  Section 2614.2(f) of the Tax Code provides for certain reporting requirements for persons that receive payments on behalf of others. Section 2614.2(f)(2) provides that the reporting requirements do not apply to an individual that is neither an “employee” nor “wage earner.” Accordingly, the reporting requirements do not apply to a PSO that receives payments on behalf of another person, other than a qualified organization described in Section 170(j). The requirements that apply to employers and employees are provided in Section 2614.2(f)(3) of the Tax Code. These reporting requirements do not apply to PSO that provide services for the purpose of providing payment services to other persons. An organization that is an employer is subject to the payment reporting requirements in Section 2614.2(f)(1) through Section 2614.2(f)(3). Section 2614.2(f)(4) requires the reporting of payment amount in the following amounts only: First dollar amount of any check or other evidence of payment, including any interest on any check, written or oral, received or made payable for the employer's business or services and any amount received as payment for the services of an employee of an organization. Section 2614.2(f) also provides for reporting of interest on any check made to or for an eligible organization that is neither a corporation registered under Article 5 of the Business & Professions Code, nor a sole proprietorship registered under Article 4 of the Business & Professions Code. This report is required after payment has been received for business services or an amount has been paid in a manner other than as a check or money order. Section 2614.2(g) provides that the reporting requirements do not apply to payments made or to be provided by an eligible organization to a person who is neither a corporation registered under Article 5 of the Business & Professions Code, nor a sole proprietorship registered under Article 4 of the Business & Professions Code. Under these circumstances, the reporting requirements do not include a determination of whether payment was made at the source of the payment. Section 2614.

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