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.