In this tax season, let us check on how to close the tax books and to prepare the tax documents. When you employed an independent contractor and paid them $ 600 or more for their business service, you need to prepare and issue the Form 1099 MISC to the concerned individual. IRS Form 1099 MISC IRS 1099 MISC Form accumulates a person’s income from all his / her non-employee compensation. The independent contractors use this Form 1099...