Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. This article is more than 10 years old. It’s 1099 time so your ...

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, ...

When you pay a person for services provided to your business and that person is not your employee, you may be required by the IRS to issue a Form 1099-MISC to the individual and to report the payment ...

If you pay independent contractors $600 or more annually, you must report those payments to the IRS on Form 1099-NEC. The process is fairly simple if you only need to send one or two, but it gets more ...

While there are multiple ways to collect money from clients and customers, one of the best options is PayPal. PayPal makes it possible to accept payments without setting up a merchant account. It’s an ...

The IRS will begin processing 2024 tax returns on Jan. 27. The last day you can file your 2024 taxes without requesting an extension is Tuesday, April 15, 2025. Gig workers who earned more than $5,000 ...

The Internal Revenue Service is offering advice to taxpayers and practitioners on how to respond to the new notices it is sending out when it finds problems with the new Form 1099-K information ...

Side hustle earnings are taxable and must be reported, even without a 1099 form. Self-employment tax covers Social Security and Medicare contributions. Organized recordkeeping helps maximize ...

Have you ever had to deal with unscrambling an incorrect IRS Form 1099 that sticks you with too much income? If so, you may already know that those IRS Forms 1099 you are receiving are the most ...

At this time of year, creditors sometimes send out what is called a Form 1099-C. They email it to the Internal Revenue Service (IRS) and copy the person who owes them debt. The form tells the IRS that ...