Making a certain amount of cash from pursuing a passion or by having your own side gig means you owe taxes, according to the Internal Revenue Service, but you won’t receive a W-2 form as you would ...
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 ...
Self-employed people who send and receive payments using things like PayPal, Venmo and CashApp get a special tax form, called a 1099-K. Usually though, they’d only receive one if they made at least ...
The P2P (peer-to-peer) payment apps have soared in popularity in recent years. With players like Venmo, PayPal ((PYPL) ), Apple Pay ((AAPL) ), Tencent ((TCTZF) ) (and so many more) some experts say ...
Form 1099-NEC is used to report non-employee income—those for independent contractors and gig workers. The reporting threshold for Form 1099-NEC will increase from $600 to $2,000, effective as of the ...
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Form 1099-INT: What It Is and Why You Received One
When it comes to managing your taxes, understanding the forms you receive is half the battle. Among these, Form 1099-INT ...
Retirement is a journey, and managing its financial aspects shouldn't be a maze. Enter Form 1099-R, a key document that often puzzles many at tax time. This guide is not just about decoding a tax form ...
Did you just receive a form called a 1099-K, a form that you never, ever saw in your lifetime? Well, do not ignore any 1099-K that pops up. Take your time to understand this one. More taxpayers will ...
The IRS, in its release of the draft of the Form 1099-DA for brokers to report digital asset transactions, includes the broad definition of “broker” used in proposed regulations that drew industry ire ...
Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Thus, if you call and write the issuer of the incorrect Form 1099 ...
CEDAR RAPIDS, Iowa (KCRG) - More people could receive a tax form in the mail this year that they’ve never seen before: a 1099-K form. The 1099-K form is a requirement for companies like ‘Venmo’ and ...
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