Expert Tax Guides, Articles, & FAQ’s

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What is Form 1099-PATR? The IRS tax Form 1099-PATR reports taxable distributions from cooperatives. The taxable distributions received from cooperatives are entered in this tax Form for each person to whom the cooperative has paid…

The IRS Tax Form 1098 reports mortgage interest of $600 or more that has been received during a business or trade. A mortgage is defined as an obligation that the real property has been secured…

The IRS Tax Form 1099-K refers to Third Party Network Transactions and Payment Card Transactions. The IRS uses this Form to improve compliance with voluntary taxes. Sellers will generally get Form 1099- K by 31st…

The IRS has announced that individuals and small businesses should use third-party apps to submit their 1099-K Tax Forms when accepting payments over $600. This change is secondary to the American Rescue Plan, that has…

Tax season is near, and tax planning is considered to be of paramount importance to everyone, including those who don’t file a tax return traditionally. During the Fall season, the IRS generally launches a campaign,…

Form 1099 is an IRS Tax Form used by taxpayers to report certain payments to the IRS annually. These tax Forms are generally used by self-employment individuals and come with several perks. People who have…

The tax Form 1099 is used for reporting information relevant to one’s income with the IRS. It is a common form that covers different taxing situations. The 1099 Forms are more information return Forms, and…