Although it is sometimes unclear, it is important for both businesses and contractors to know the difference between an employee and contractor for tax purposes.
You should have collected this information during the year, so it should be fairly easy to fill out. Ruth No comments Information returns are documents that record payments by individuals, estates, corporations, and trusts to any other party. A few other types of information returns have different deadlines.
They will file this with their state income tax return when required. Now, I work with the IRS a lot. Most information returns must be submitted to the payment recipient by the end of January and to the IRS by the end of February.