This guide details exactly what you need to file with the IRS when working with freelancers and other non-employee providers, explains why it’s important, and offers tips to help you avoid costly ...

1099 tax forms for crypto When you go to do your taxes, you will notice that there are many 1099 forms for various activities. However, many will not apply to crypto. 1099 forms are divided based on ...

New Rules for Form 1099-K For the 2023 tax year, third-party payment processors only needed to send out 1099-Ks if account holders conducted more than 200 transactions totaling at least $20,000 in ...

While filing this form is straightforward, errors can occur. Correcting these mistakes promptly is crucial to avoid penalties and ensure IRS compliance. Common Errors in 1099-NEC Forms Several common ...

Form 1099-NEC documents nonemployee compensation. You'll receive this form if you were self-employed (gig worker, freelancer) or did independent contractor work amounting to over $600 last year.

Form 1099-SB is filed after 1099-LS (sale or transfer of a life insurance policy) has occurred. While the latter documents the purchase, 1099-SB documents the cost basis for the life insurance.

This tax year millions of independent workers will receive Form 1099-NEC in the mail or electronically — prompting questions of what it is and how to use it for taxes. Businesses use Form 1099-NEC to ...

This year, taxpayers will receive a 1099-K from payment card companies, payment apps, and online marketplaces when the amount ...

The SCDOR only accepts the 1099-R, 1099-NEC, and 1099-Misc forms electronically. You must submit other 1099 forms that withheld SC income using a paper form.

There have been a few delays to those changes, but we’re here to fill you in on the latest. On Nov. 26, 2024, the IRS issued guidance on the 1099-K reporting thresholds for tax years 2024, 2025, and ...