Whether you're a business owner who relies on independent contractors or you make your living as a freelancer, understanding the difference between Form 1099-MISC and 1099-NEC is critical to ensuring ...

Whether you're a business owner who relies on independent contractors or you make your living as a freelancer, understanding the difference between Form 1099-MISC and 1099-NEC is critical to ensuring ...

The Internal Revenue Service has resurrected a form that hasn’t been used since the early 1980s, Form 1099-NEC, Nonemployee Compensation, with a draft version available for preview on its website.

Employers who pay independent contractors for work that is not paid through their payrolls do not take out deductions. The contractors file their own taxes and make the payments. As a result, ...

Making a certain amount of cash from pursuing a passion or by having your own side gig means you owe taxes, according to the Internal Revenue Service, but you won’t receive a W-2 form as you would ...

As is the case every year, we’re hearing from lots of folks confused about when to send a 1099 form or other “information returns” to someone. It is true that over time, these forms have continued to ...

My daughter asked for a pair of throwback Nike sneakers this week to match her ringer tees and scrunchies. Not to be outdone, my son wants a DeLorean. It feels like we’re heading back to the 1980s - ...

Despite COVID-19, the Internal Revenue Service is continuing forward with moving 1099-MISC Box 7, “Non-Employee Compensation” to a new form, the 1099-NEC. This is effective starting this tax year, ...