As a Worker/Payee, who receives an IRS Form Standard 1099-NEC?

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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 Standard 1099-NECs, WorkMarket will generate and file 1099-NECs with your payer's company tax information listed in the payer section.

At the end of January, the following forms will be provided and filed for you if you meet the following criteria:

  1. 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.
  2. 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

For Workers that were bulk onboarded for Prior Balance Loading (PBL) only and did not receive additional payments in WorkMarket, you will receive: 

  1. 1099-NEC Forms: will be mailed to the WorkMarket address on file. If you need additional copies, your payer can provide one directly 
    • Note: If you were bulk onboarded for Prior Balance Loading only, you will not have tax documents available in your WorkMarket account.

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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