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 ...

There are penalties for missing the deadline for the new 1099-NEC form and updated 1099-MISC for both tax filers and businesses.

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, ...

You might receive this document if you have freelance work, investment income, retirement distributions or other financial ...

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.

Disclaimer: Always consult a tax professional to ensure you understand your business tax obligations. This article compiles information directly from the IRS and is intended as a resource and not tax ...

Many self-employed or freelance workers expect to receive 1099 forms, but few realize that if they were hired to do work and paid more than $600, then they need to send a 1099 form. It is a bit more ...

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 - ...

For the 2020 tax year, the Internal Revenue Service (IRS) moved reporting of certain nonemployee compensation, including current and deferred compensation paid to independent contractors and corporate ...

The Internal Revenue Service has revived Form 1099-NEC to eliminate confusion about complying with new filing deadlines aimed at combatting fraud. The Internal Revenue Service (IRS) released its final ...