What is IRS Form 1099-MISC and How to File it?

The IRS requires certain forms to be filled out and submitted who makes certain kinds of payments.  The IRS 1099- MISC can be used to cover payments you receive from rental property, royalties, prizes, awards, and substitute payments instead of dividends. The most common use of this form is to report the earnings if you work as an independent contractor, such as a freelance writer. You only have to submit a form 1099-MISC if you made over $600...

IRS Form 2290: Why is it so Important?

The Heavy Vehicle Use Tax or HVUT is a federally mandated tax that is placed on all vehicles that weigh 55,000 pounds and more than that are used on state highways throughout the US; if you are a truck driver or owner and run a business that utilizes larger trucks it is your responsibility to file for this tax with a Form IRS 2290. Until recently, there was a time consuming process that took a number of weeks to complete...