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 ...

When tax season rolls around, one of the most common documents taxpayers receive is Form 1099-INT. This form, issued by banks, credit unions and other financial institutions, reports interest income ...

Learn how to fix errors, report missing forms, and stay compliant with the IRS before filing your 2024 tax return.

Unbelievably, year-end is right around the corner. The first line of business in January 2023 will be to file and issue any necessary Form 1099s. Although I am fairly new to the profession and my role ...

Christiana Jolaoso-Oloyede writes for media publications, B2B brands and nonprofits. Using her research, analytical and writing skills from her training as a lawyer, she focuses on garnering accurate ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-NEC, Nonemployee Compensation. The IRS has ...

You will receive a 1099-C Cancelation of Debt form if a lender forgives more than $600 of taxable debt. You must include the amount of canceled debt on your federal tax return as a part of your ...

One law provision new for tax years beginning in 2022 and after that could catch many individual taxpayers by surprise — particularly those in the “gig economy” — is the much lower threshold at which ...