If you pay independent contractors $600 or more annually, you must report those payments to the IRS on Form 1099-NEC. The process is fairly simple if you only need to send one or two, but it gets more ...
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When do I have to issue a 1099 form to someone I paid?
Knowing when to issue which kind of 1099 form to someone you paid money to can be a mystery to small business owners, but ...
The IRS will begin processing 2024 tax returns on Jan. 27. The last day you can file your 2024 taxes without requesting an extension is Tuesday, April 15, 2025. Gig workers who earned more than $5,000 ...
Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Many people will soon be filing their 2024 tax returns by the ...
If you run a small business and work with independent contractors, the different tax forms you’re responsible for processing with nonemployee hires might feel like alphabet soup. Two of the most ...
Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Forms 1099 generally saddle you with income you have to report.
Your 1099-R tells the IRS a story about your IRA distributions. But what if the story is not true? If a distribution was made from your IRA during 2024, your IRA custodian must send you a Form 1099-R ...
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