An IRS tax form delivered by employers to nonemployees (e.g. consultants, independent contractors), typically in January. Form 1099-MISC reports income/compensation that nonemployees received during the prior year and is similar in concept to Form W-2 for employees.

Alert: Starting in 2020, this information is instead reported on the new IRS Form 1099-NEC.

For details about the reporting of nonqualified deferred compensation on Form 1099-MISC, see the related FAQ.