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 ...

Kim Porter began her career as a writer and an editor focusing on personal finance in 2010. Since then, her work has been published everywhere from Forbes Advisor to U.S. News & World Report, Fortune, ...

Filing taxes is a daunting experience for many Americans, whether it's their first time or they've been doing it for decades. The digital age has made it a lot easier to download your tax documents ...

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 ...

A 1099 is a tax document reporting nonemployment income to the IRS. There are several types of 1099 forms, depending on the income you receive — but all are designed to report payments you received to ...

With record-high inflation in 2022, many Americans took on side hustles to afford the increased costs of living. That included renting out part of their home, selling goods on sites like Etsy, ...

Your 1099-R tells the IRS a story about your IRA distributions. But what if the story is not true? If a distribution was made from your IRA during 2024, your IRA custodian must send you a Form 1099-R ...

When tax season rolls around, one of the most common documents taxpayers receive is Form 1099-INT. This form, issued by banks, credit unions and other financial institutions, reports interest income ...