Iowa Code 252G.4 – Alternative reporting requirements — penalty
Current as of: 2024 | Check for updates
|
Other versions
1. a. A payor of income to whom section 252G.3 is inapplicable, who enters into an agreement for the performance of services with a contractor, shall report the contractor to the registry. Payors of income shall report contractors performing labor under an agreement within fifteen days of the date on which all of the following conditions are met:
(1) The payor issues payment to the contractor in an amount which exceeds the amount required for the filing of a 1099-MISC report.
(2) Payment to the contractor under an agreement is made in a form which is other than a lump sum payment, within a calendar year.
b. The payor of income is not required to file more than one report for any contractor.
Terms Used In Iowa Code 252G.4
- Child: includes but shall not be limited to a stepchild, foster child, or legally adopted child and means a child actually or apparently under eighteen years of age, and a dependent person eighteen years of age or over who is unable to maintain the person's self and is likely to become a public charge. See Iowa Code 252A.2
- Contractor: means a natural person who is eighteen years of age or older, who performs labor in this state to whom a payor of income makes payments which are not subject to withholding and for whom the payor of income is required by the internal revenue service to complete a 1099-MISC form. See Iowa Code 252G.1
- Days: means calendar days. See Iowa Code 252G.1
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Payor of income: includes both an employer and a person engaged in a trade or business in this state who engages a contractor for compensation. See Iowa Code 252G.1
- Registry: means the central employee registry created in section 252G. See Iowa Code 252G.1
- year: means twelve consecutive months. See Iowa Code 4.1
2. The report submitted to the registry shall contain all of the following:
a. The name, address, and federal identification number of the payor of income.
b. The contractor’s name, address, social security number, and if known, the contractor’s date of birth.
3. A payor of income required to report under this section may report the information required under subsection 1 by any written means authorized by child support services which results in timely reporting.
4. Information reported under this section shall be received and maintained as provided in section 252G.2.
5. A payor of income required to report under this section who fails to report is subject to the penalty provided in section 252G.3, subsection 5.