If you’re an employee, you’ll receive a W-2. And if you’re an independent contractor, you’d receive a 1099 form. Likely, you might be one of the many tax filers have some questions about ...

What is a Form 1099-MISC? A 1099-MISC is a type of tax form. It is used to report miscellaneous income for individuals and companies who have been paid $600 or more in non-employee service payments ...

Form 1099 reports freelance payments, income from investments, retirement accounts, Social Security benefits and government payments, withdrawals from 529 college savings plans and health savings ...

Misclassifying W-2 employees as 1099 contractors has severe penalties. Learn the biggest difference between the two types of ...

Each year, employees receive a Form W-2 that provides details of the prior year’s earnings, taxes withheld, and other miscellaneous data (such as the taxable cost of group term life insurance, the ...

Opinions expressed by Forbes Contributors are their own. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Beginning in 2017 for 2016 payments, the IRS has moved up the filing date ...

you reported it on Form 1099-MISC, in Box 7, for non-employee compensation. For 2019 and prior years, putting income in Box 7 of a Form 1099-MISC tipped the IRS off that you should be paying self ...

Fortunately, there are plenty of tax-advantaged options available for 1099 workers ... SEP IRA can be set up for both the employer and the employees of a business to provide a valuable employee ...