If you pay independent contractors $600 or more annually, you must report those payments to the IRS on Form 1099-NEC. The process is fairly simple if you only need to send one or two, but it gets ...

You can also look up more information about each form at IRS.gov. For example, if you’re self-employed, you generally report your income from 1099-NEC on Schedule C, Profit or Loss from Business.

After two years of delays, the IRS's third-party payment apps reporting change might impact your 2024 tax return.

Sovos, the always-on compliance company, today announced the launch of 1099 Professional, a new solution designed to simplify tax information reporting for small and medium sizes businesses (SMBs).

Offering comprehensive capabilities including IRS eFile, print and mail services, 1099-NEC direct-state reporting and Form 1042 Modernized eFile reporting, users can handle their 1099 reporting ...

The IRS website clearly states that you have to file a tax return if you net $400 or more from self-employment work.

Typically, this information gets reported using an IRS tax form called the 1099-K. The Form 1099-K is a reporting form meant specifically for transactions made through third-party network ...

The IRS website offers guidance to determine which ... Form 1099-INT is for interest income, and Form 1099-NEC shows income for independent contractors, for example. If you think you may itemize ...