If you earn income and receive payment through the WorkMarket platform, the payer may be required by law to report your earnings to the applicable tax authorities.
For 1090-NECs - Vendor of Record, WorkMarket will generate and file 1099-NECs with Resource Enterprise Services LLC listed as the payer.
At the end of January, the following forms will be provided and filed for you if you meet the following criteria:
-
1099-NEC Forms
- US worker
- Receive $600 or more from your company during the tax year
- Not setup as corporations (S-corp & C-corp)
- Note: Workers who opt into mail delivery will receive mailed copies to their address on file.
- Earnings Report: provided to all workers regardless of client service type, and includes total gross earnings, expenses, deductions, overpayments, reversals, OAI/GL fees, and net earnings for a given year
NOTE:
For a full list of the federal tax classifications and whether WorkMarket will furnish and file a Form 1099-NEC, please refer to the table below.
Federal Tax classification | Receive a 1099-NEC | |
Individual | Yes | |
Business* | Sole Proprietor or single-member LLC | Yes |
C Corporation | No | |
S Corporation | No | |
Partnership | Yes | |
LLC - C Corp | No | |
LLC - S Corp | No | |
LLC - Partnership | Yes | |
Trust / Estate | Yes | |
Non-Profit | Yes |
* Please note that WorkMarket does not issue Forms 1099-NEC for the following types of reportable corporation transactions: (I) attorney fees reported in Box 1; or (ii) payments by a federal executive agency for services (vendors) reported in Box 1. If your corporation engages in any of these types of transactions, you should seek additional assistance from your tax advisors.
You will receive a notification once these documents are available to download in the Tax Documents page of WorkMarket: https://www.workmarket.com/tax/documents (browser version only).
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