When businesses pay a nonemployee, such as a freelancer or independent contractor, $600 or more in a year, they must file Form 1099-NEC, which is filled out using the information on Form W-9.

Income at or above those thresholds would trigger a Form 1099-K, or report of payments you received for goods or services during the year. The law was supposed to go into effect in 2022 but was ...

Excel continues to be a cornerstone of professional productivity, but the evolving demands of modern workplaces require more than just basic proficiency. To remain competitive and efficient, you ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation.

These free online tools let you skip the setup and start tracking your money right away. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

This is the second time the IRS has delayed implementing the 1099-K $600 tax reporting rule. So, instead, for the 2023 tax year, a previous rule involving a much higher $20,000/200 transaction ...

Form 1099-K reporting requirements have created a lot of confusion, and it's understandable why. Many of those sellers haven’t received 1099-Ks before, so understanding the new rules is ...