With all of the forms available from the IRS, it can be difficult at times to know which form to file and when. Generally speaking, the 1099-MISC form is for independent contractors or freelance workers seeking to report their earnings to the IRS, but there are several other situations in which to use this form. Here is a quick overview of IRS 1099-MISC. Form 1099-MISC Requirements According to the IRS website, a company should file form 1099-MISC...

If there is one time of year when people around the country collectively start to worry, it would be around tax time. Let’s be honest: no one likes doing their taxes. Even those who are lucky enough to get by filling out a 1040EZ still find themselves double and triple checking to make sure they have not missed a field or miscalculated a number. Those who routinely work with independent contractors are certainly familiar with a federal...

An information return is a tax document businesses are required to file to report certain business transactions to the Internal Revenue Service (IRS). The requirement to file Information Returns is mandated by the Internal Revenue Service and associated regulations. Any person, including a corporation, partnership, individual, estate, and trust, who make reportable transactions during the calendar year, must file information returns to report those transactions to the IRS. Persons required to file Information Returns to the IRS...