I've done consulting for a number of companies and some of them give out 1099-MISC's and some don't. My question is... why do any of them give out a 1099-MISC?
If I wanted to subcontract out some work to a friend and I gave the friend, let's say, $2,000 for his efforts, I wouldn't give him a 1099-MISC. Among other things, I wouldn't know how to fill it out anyway. And even if I did... would I just give it to him and leave it at that? Or would I somehow give a copy of that 1099-MISC to the IRS as well?
idk it just seems that 1099-MISC's add administrative overhead and that the person being paid ought to be keeping track of how much they're getting paid anyway and that if they are keeping track then that, it seems to me, would eliminate the need for a 1099-MISC at the end of the year anyway.