The bill extends portions of the Tax Cuts and Jobs Act, provides deductions to eliminate income taxes on certain tips and ...

Tennessee has become the second state to offer portable benefits to 1099 workers, providing access to health insurance and ...

Once you receive Form 1099-INT, review it carefully to ensure all information is accurate, including your name, taxpayer identification number (TIN), and the interest amount reported.

New Rules for Form 1099-K For the 2023 tax year, third-party payment processors only needed to send out 1099-Ks if account holders conducted more than 200 transactions totaling at least $20,000 in ...

$5,000 in 2024 $2,500 in 2025 $600 in 2026 and after According to the IRS, you may receive a Form 1099-K even when total payments are less than the reporting threshold.

Employees receive a W-2, whereas a 1099 form documents income you earned outside of W-2 earnings. For some taxpayers, the majority (or even all) of their earnings in a given year will be 1099 income.

This year, taxpayers will receive a 1099-K from payment card companies, payment apps, and online marketplaces when the amount of their business transactions during 2024 was more than $5,000.

South Carolina employers and payroll service providers should submit their 2024 W-2 and 1099 forms to the SCDOR by Jan. 31, 2025. If you file 10 or more W-2 or 1099 forms, remember – you’re ...

A 1099-K form is sent to self-employed people who use third-party payment apps. Its threshold has been lowered from $20,000 to $5,000.

If you file paper copies of Form 1099, you will also have to file Form 1096. Among the benefits of filing Form 1099 electronically is the absence of this requirement.