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 ...
Form 1099-NEC is used to report non-employee income—those for independent contractors and gig workers. The reporting threshold for Form 1099-NEC will increase from $600 to $2,000, effective as of the ...
The P2P (peer-to-peer) payment apps have soared in popularity in recent years. With players like Venmo, PayPal ((PYPL) ), Apple Pay ((AAPL) ), Tencent ((TCTZF) ) (and so many more) some experts say ...
Self-employed people who send and receive payments using things like PayPal, Venmo and CashApp get a special tax form, called a 1099-K. Usually though, they’d only receive one if they made at least ...
The IRS, in its release of the draft of the Form 1099-DA for brokers to report digital asset transactions, includes the broad definition of “broker” used in proposed regulations that drew industry ire ...
Retirement is a journey, and managing its financial aspects shouldn't be a maze. Enter Form 1099-R, a key document that often puzzles many at tax time. This guide is not just about decoding a tax form ...
Did you just receive a form called a 1099-K, a form that you never, ever saw in your lifetime? Well, do not ignore any 1099-K that pops up. Take your time to understand this one. More taxpayers will ...
Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Thus, if you call and write the issuer of the incorrect Form 1099 ...
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