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.

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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 ...

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If you are self-employed or have a freelance job in the gig economy, customers who have paid you more than $600 in the previous tax year will send you a Form 1099-NEC around the end of January.