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

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 ...

with 2.9 percent tax on any excess over $147,000. You can read more about Form 1099-NEC specifically for reporting payments to independent contractors. And while the NEC form usually means self ...

The form must be given to the independent contractor by January 31 of the following year. Form 1099 with its transmittal Form 1096 must be filed with the IRS by February 28 of the following year.

Freelancers and independent contractors have to fill out Form W-9 for their employers and clients. Here's what to do and how ...

A 1099 form is used by the business to report ... In summary, I use W9 forms when: Hiring independent contractors Gathering ...

the meal reimbursements must be included in the 1099-reportable fee, per IRS regulations. Independent contractors cannot be reimbursed for alcoholic beverages or alcohol-related costs under any ...

Robert W. Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-K, Payment Card and Third Party Network Transactions, an IRS information return ... [+] used to report certain ...

One important document is IRS Form 1096—it’s kind of like ... way to summarize the information on the 1099 forms sent to ...

1099-NEC and 1099-MISC (issued by the University to various independent contractors ... Contact: If you have questions about a Form 1099-NEC or 1099-MISC issued to you by the University, contact Tax ...