The IRS Form 1099 are a type of information returns form that is not part of the Income-tax returns. These forms should be filed with the IRS if the receiver has received at least $600 or an equivalent benefit from the provider during the tax year. There are many varieties of Form 1099 and the most common of these Forms are,  Form 1099-MISC for miscellaneous payments Form 1099- INT for interest payments Form 1099 G for unemployment...

The Internal revenue service reminds businesses and other payers that the deadline for filing Form 1099 is February 1, 2021. There are many different types of the 1099 Forms, such as 1099- MISC, 1099-INT, 1099-K, etc,  and the due dates for E-filing of these forms vary and are given by the IRS. The deadlines set by IRS for 1099-Forms helps in easy fraud detection and helps in verifying the income that is reported by the individuals on...

Are you a self-employed individual or run a business owing more transactions during the year? Then, you need to understand form 1099-K and its particulars. What is form 1099-K? The IRS mandates taxpayers to report about various transactions from different sources, neglecting paid checks. Taxpayers receiving payment transactions report to the IRS through the 1099-K form. Either you’re an independent contractor or self-employed, you file 1099-K income with schedule C, with Form 1040 tax return.  The third-party...

Are you aware of 1099-DIV dividends and distributions? The IRS Form 1099-DIV is sent by financial institutions and banks to investors. Investors gaining distributions and dividends for investment during the year must fill the 1099-DIV dividends and distributions. What is 1099-DIV? The Form 1099-DIV is proof for any entity or company that paid you dividends. For earnings above $10 profits from other entities or companies, a 1099-DIV reaches you. The 1099-DIV is a usual category of IRS...

The IRS tax form 1099-INT is a record stating that an entity or individual paid you interest. By year-end, payers provide the Form 1099 INT of interest income to investors. Payers are to issue Form 1099-INT for whom they paid a share of $10 during the year. Mutual funds, banks, brokerage firms, and other financial institutions paying an interest of over $10 must file Form 1099-INT. The Form 1099-INT should reach the IRS before January 31. About...