If you have more than $600 of debt forgiven, your lender should send you a 1099-C Cancellation of Debt form. This form is a ...

Income reported on a 1099 form is usually taxable, but not always. The IRS also receives copies of your 1099 forms, and you’ll probably receive a notice from the IRS if you don’t report ...

That’s mainly because of changes to a federal tax reporting rule that requires third-party payment networks, including apps and online marketplaces, to send a form 1099-K to millions of online ...

tax professionals, and payment processors. To reduce confusion, the agency announced on November 21, 2023, in Notice 2023-74 that it would delay the new $600 Form 1099-K reporting threshold for ...

If you run a small business and hire independent contractors, understanding the difference between W9 and 1099 forms is ...

Robert W. Wood is a tax lawyer focusing on taxes and litigation. This “backup withholding” at 24% is the usual consequence of refusing to hand over a Form W-9. Forms 1099 allow computer ...

The most important point is that only businesses need to issue 1099s — if you paid someone for personal purposes, you are not ...

In response to corporate concerns over the 1099-K threshold and to avoid further confusing taxpayers, the IRS has postponed implementing the new Form 1099-K reporting threshold requirement for ...

Sell on Ticketmaster? Get a 1099-K if payments exceed the threshold. Report all sales, pay tax only on profits. No 1099-K?

Do you use PayPal? Get a 1099-K if payments exceed the threshold. Report all sales, pay tax only on profits. No 1099-K? You ...

There are many different versions of the Form 1099 depending on the type of income you need to report when you file your return. Keep in mind that you’re not the only one who receives these forms – ...