The key to Forms 1099 is the IRS' computerized matching. The IRS matches each 1099 with your tax return based on your Social ...

In a memo, then-Acting OMB Director Matthew Vaeth said the freeze was necessary to conduct a comprehensive analysis of whether the spending aligns with President Donald Trump’s recent executive ...

If your business pays nonemployee compensation and other reportable payments, you must be aware of two forms: Form 1099-MISC and Form 1099-NEC. Many employers are likely familiar with Form 1099-MISC.

Russell Vought, President Donald Trump’s Director of the Office of Management and Budget (OMB), is ordering federal agencies to formulate plans for a reduction in workforce, likely terminating many ...

A Wednesday memo from the Office of Personnel Management (OPM) and Office of Management and Budget (OMB) directs agencies ... Board on Tuesday ordered a small number of fired probationary ...

"The federal government is costly, inefficient, and deeply in debt," the OMB memo said ... The memo called for "a significant reduction in the number of full-time equivalent positions by ...

Vought, who was confirmed earlier this month to lead OMB, has deemed the Impoundment Control Act, which keeps the executive branch from redirecting appropriated funds, to be unconstitutional.

In total, $1.88 billion is being withheld from Illinois, the governor and lawmakers said in the letter, which was addressed to OMB Director Russell Vought. The “frozen funds” have created ...

That move, back in 2020, was partly the work of Russell Vought, who is once again leading the OMB. In the four years that Trump was out of power, Vought was busy establishing the framework for the ...

If you sell goods or services or rent property, and get paid through Venmo, PayPal, Cash App or another payment app, you may have been surprised by a Form 1099-K this year. Here’s why you might ...

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

The EO gives agencies 60 days to provide the Office of Information and Regulatory Affairs at OMB with a list of regulations that should be either rescinded or modified. Trump is also telling agencies ...