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.

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).

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

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

Amy Fontinelle has more than 15 years of experience covering personal finance, corporate finance and investing. Lea Uradu, J.D. is a Maryland State Registered Tax Preparer, State Certified Notary ...

Plus, Thomson Reuters integrates AI CoCounsel with tax solutions; Sovos introduces 1099 Professional solution; and other ...