What is Form 8849, or who must file IRS Form 8849? Form 8849 helps taxpayers to claim a refund. Truck owners and fleet operators may qualify for a refund of Heavy Vehicle Use Tax (HVUT)…
If you received Form 1099-NEC for freelance, contract, gig, or other self-employed work, the income is generally reported on Schedule C (Form 1040) when you operate the activity as a sole proprietor or a single-member…
If your business paid independent contractors, consultants, landlords, attorneys, or other vendors during 2026, choosing between Form 1099-MISC and Form 1099-NEC is important. The two forms report different types of payments, and using the wrong…
If you paid independent contractors or made other payments that require information reporting, one of the first things to check is the 1099 filing deadline. Form 1099-NEC and Form 1099-MISC are both used to report…
Yes. An LLC taxed as a partnership can receive Form 1099-NEC when it is paid at least $2,000 for qualifying services. The important point is that an LLC’s legal structure does not, by itself, determine…
Hiring a freelancer to redesign your website? Paying an independent contractor to repair equipment? Working with a consultant who isn’t on your payroll? Those payments may be considered nonemployee compensation for tax reporting purposes. Nonemployee…