Expert Tax Guides, Articles, & FAQ’s

1099-MISC Box-5 Fishing Boat Proceeds-this is about the money proceeds as payable by the owner of the fishing boats to each working fishing crew as individuals who can be a mate, engineer, or cook where…

Before proceeding to Box-4, the IRS 1099 Instructions towards Box-3 for other income states as follows –  Employers should not include prizes and awards paid to their employees. Whereas they need to report from w2. The employer…

1099-MISC Box-2-Royalties: The box one for rent as in IRS 1099-MISC determines the reporting as spells out the standard $600 which applies to rental payments for the box-1 as in the 1099 form. Now comes the…

One who is on the verge of levied penalties for having failed to pay undue taxes to the IRS even after using form 4868 has nothing to complain about but to comply with the IRS…

Tax form 1099 requires to be accounted with an exact classification of workers, employees, and independent contractor services and their resultant payments as made by the employer and accordingly taxes need to be worked out before…

If you will be reporting an income other than your salary, tips or any wages that are usually reported on your W-2 form then you will need to file a form 1099 with your taxes.…

A 1099 form is an information return that is filed with the Internal Revenue Service, IRS, that reports income earned from various ventures like; self-employment earnings, interests and dividends, payments from the government, and many…