That makes it possible for IRS collection efforts to be streamlined and automated. Failing to report a Form 1099 on your tax return (or at least to explain it) is likely to get you an IRS notice ...

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 ...

Freelancers and independent contractors have to fill out Form W-9 for their employers and clients. Here's what to do and how ...

Q: I just sold my house and moved into a 55-plus community. I paid an entrance fee to the community and now pay rent on my ...

A 1099-MISC is a form that reports various types of income for Tax Day. It's filed by a business or organization that pays pre-taxed money to a recipient, which could be an individual or another ...

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 ...

Each year, employees receive a Form W-2 that provides details of the prior year’s earnings, taxes withheld, and other miscellaneous data (such as the taxable cost of group term life insurance, the ...

You will receive a 1099-C Cancellation 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 ...