1099 Tax Forms
IRS form 1099Misc and NC 1099PS reporting
UNC issues forms 1099Misc for services provided by non-employees. 1099Misc is also issued to students for awards and other taxable income. Taxable payments to employees and students who receive regular payroll checks are reported on form W2 instead of form 1099Misc. Form 1099Misc are also issued to employees and vendors for royalties.
Forms NC1099PS are issued to non-NC residents for specific services performed within NC. UNC must withhold 4% on services provided for the year in excess of $1,500.
Policies and Procedures
- 707 – Policy on NC Income Tax Withholding Requirement for Non-Wage Compensation to Nonresidents
- 707.1 – Payments for Personal Services of a Non-North Carolina Resident
Frequently Asked Questions
- What is the 1099-MISC?
- An IRS tax form used to report a year-end summary of non-employee compensation by UNC-Chapel Hill.
- Who receives the 1099-MISC?
- Any individual who gets paid $600 in non-employee compensation by UNC-CH during a calendar year. Also, certain other types of payments may require the issuance of the 1099-MISC, such as rents, royalties, and payments to attorneys.
- When is it issued?
- By the last day of January in the year following the tax year being reported.
- Why not combine all income on a single tax form?
- UNC-CH reports all employee compensation on the W2, but by IRS guidance the 1099-MISC reflects non-employee compensation of various types.
- Where is it sent?
- It is sent to the address on file in UNC Accounts Payable Office at the time of payment by UNC-CH. If your address changes after payment, please contact the UNC Vendor Coordinator to update the address before mid-January to insure 1099-MISC issuance to the correct address. All employees and students should correct their address in the Campus Directory by updating the home address field.
- How do I obtain a copy of my 1099-MISC?
- For a current year copy, please email email@example.com to make a request.
For any year before 2014, please follow the same protocol, however a social security number is required to locate the 1099-MISC and to prepare a copy.
- My W2 shows withholding but my roommate’s 1099 has none…why?
- All employees have various amounts withheld by UNC Payroll on the W2. Form 1099-MISC reflects non-employee income and UNC-CH is not required to withhold on this income.
- My department overpaid me and I repaid this, but it’s still on my 1099-MISC…why?
- Your department must promptly notify Accounts Payable whenever such changes occur, to ensure all accounting records are updated and corrected. This will also correct tax reporting issues.
- If my 1099-MISC is incorrect how can I correct this?
- Contact Accounts Payable so that the matter may be researched and corrected. A new 1099-MISC will be issued to you and the IRS, if appropriate.
- A foundation pays me so who issues my 1099-MISC?
- The UNC Foundations (there are many) are separate legal entities from UNCCH, so each is responsible for any tax forms needed. This is true even though UNC-CH processed the actual payment.
- I am a UNC student. Where can I find guidance about taxes and education?
- Consult IRS Publication 970 at IRS.gov. For further information, it is suggested to utilize a tax advisor of your choice.
- I am a UNC employee but received both a W2 and 1099-MISC…why?
- UNC seeks to reduce unneeded paperwork whenever and wherever possible. However, IRS guidance separating most employee and non-employee compensation reporting forms, sometimes results in more than one form for one individual.
- I am a UNC employee but payments labeled as ‘gifts’ (actually awards and my stipend issued by disbursements) are shown in Box 14 of my UNC payroll issued W2…why?
- UNC seeks to limit excess forms if possible. In this case, the payments paid by other offices are shown on the same W2, and UNC Payroll carefully explains the placement and title in the tax information section of its website. For details on what the Box 14 amounts represent, please contact Accounts Payable directly as these payments originate there.
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