Yes, a C-Corporation can issue 1099 forms to contractors.
The deadline for filing 1099s on time was January 31, 2024, so you may want to look at whether you are required to file late 1099 forms. The penalties for filing 1099 forms late range from $60 – $310 per form (tax year 2023), depending on how late they are.
The IRS says you should file Form 1099-NEC for each person in the course of your business to whom you have paid at least $600 during the year:
- Who isn't your employee.
- Who you paid for services in the course of your trade or business.
- You made the payment to an individual, estate, or, in some cases, a corporation.
However, you don't usually report payments made to C or S Corporations unless they are:
- Attorneys' fees reported inbox 1.
- Payments by a federal executive agency for services (vendors) reported inbox 1.
Payments made with a credit card, or other electronic payment system aren't subject to reporting on Form 1099-NEC. Follow this link for more details about Form 1099-NEC.
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