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    satish kadam's Avatar
    satish kadam Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 5, 2009, 04:05 AM
    What is the Difference between Corp to corp (C2C) & W2 & 1099
    What is difference between Corp to corp & W2 & 1099? Can anyone tell me?
    What its effects on Taxes? Reply me.

    Thanks in advance
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jul 6, 2009, 09:38 AM
    W-2s are issued to employees to document salary or wages.

    Form 1099-MISC is required to be issued to ANYONE who is NOT an employee who receives payment or compensation for work done or services rendered if the compensation exceeds $600 per year.

    Copies of both the W-2 and the Form 1099-MISC are sent to the IRS and state tax departments to provide a paper trail of compensation paid to employees (via the W-2) and to independent contractors (via the Form 1099-MISC).

    However, the Form 1099-MISC is NOT REQUIRED if the work or services rendered is between corporations. That is what is meant by corp-to-corp.
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