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Are Peformance Bonus Awards Paid to High Performing Employees Form 1099 Reportable?

Question

My question is about the reporting requirement (W-2 or 1099-MISC) for performance bonus awards paid to high performer and overachieving employees.  I assume it would be on a W-2, but am I still within the law to report the performance bonus on a 1099-MISC form if in the event that we can not do it on a W-2 form?  Please let us know as soon as possible.

Answer

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