Expert Tax Guides, Articles, & FAQ’s

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…

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…

The IRS Form 1098-T helps taxpayers in calculating the educational credit including deductions for tuition and helps to report tuition statements, educational credits, and other expenses for education paid during the tax year. These educational…

A mortgage is an obligation secured by a real property, which could be land or any property built on it or attached to the land. Form 1098-MORT is used to report mortgage interest of $600…

All of us must be gearing up as the new tax year is approaching. Amid the various forms, you must have come across 1098-T and 1098-MORT forms. Let us glimpse through the details regarding these…

We use Form 1098 and its variants to report contributions and other tax-deductible expenses to the taxpayers and the Internal Revenue Service. These forms cover mortgage interest payments, Contribution for motor vehicles including boats and…

Businesses are mandated to file both their income tax returns and their information returns to avoid costly penalties later on. Businesses use the W-2 Form to disclose information on the wages paid to the employees…