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, ...

A variety of 1099 Forms are used to report income to the IRS Fact checked by Vikki Velasquez Forms 1099 report a wide range of taxable income to the Internal Revenue Service (IRS). Issuers of these ...

If part of running your business involves receiving or making payments of more than $600 for the use or occupation of property that you own, then you are going to need to report that 1099 rental ...

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 ...

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The IRS has announced that businesses can now file Forms 1099 using a new online portal called the Information Returns Intake System, or IRIS. And it's just in time since most Forms 1099 are due to ...

Starting in 2020, companies that pay at least $600 for services performed by someone who is not their employee are required to use the new Form 1099-NEC to report the nonemployee compensation. The ...

Illinoisans who received unemployment insurance benefits in 2020 should make sure to file a special form when they complete federal and state tax filings by April 14, state officials say. The reminder ...