Month: December 2020

IRS 1099 A Tax Form significance: Does your property have been transferred due to foreclosure? Then you need to inform the IRS whenever a property is sold or

Did you pay a person during the tax year 2020? Does the person is a contractor or an entity? Then you need to report the payments through 1099

It’s the most delightful time of the year! Across the world, people are putting up their Christmas trees, hanging their Christmas decorations and writing Christmas cards to their

1099 INT Form extension: Are you reporting the interest amount paid to the investors through 1099 INT tax Form? If your answer is “yes”, then file your 1099

1099 NEC filing circumstances: Did you pay a person for working for your business or trade of about $600? Does that person works as a part of your

Did you pay $10 or more as distribution for retirement plan? Then you need to report the payments through 1099 R Tax Form. Most public and private pension

In the US, if the payer paid more than or equal to $600 to the payee, then the payer must provide an IRS 1099-Misc Form to the recipient

Filers must file the 1099-Misc Form before the due date with the IRS. If the filer uses electronic filing, then the filer must file the Form 1099-Misc to

The IRS has made changes to the IRS Form 1099-MISC by reviving the new 1099-NEC form. The 1099-NEC 2020 form will used for reporting nonemployee compensation (NEC) payments

Purpose of IRS Form 1099: A variety of IRS 1099 forms are used to report income to the IRS as well as the recipient. They all serve the