1099 tax form

Paper Filing vs. E-Filing: Why the IRS Prefers Digital Tax Reporting

blog /

The way businesses and individuals file their taxes has evolved significantly over the years. While traditional paper filing is still an option, the IRS strongly encourages taxpayers to opt for e-filing due to its efficiency, accuracy, and security. In this article, we’ll explore the differences between paper filing and e-filing, the IRS’s preference for digital […]

Paper Filing vs. E-Filing: Why the IRS Prefers Digital Tax Reporting Read More »

2025 IRS Tax Filing Deadlines: Important Dates for 1099, W-2, and Business Taxes

blog /

Staying on top of tax deadlines is crucial for businesses, employers, and independent contractors. Missing an IRS deadline can result in costly penalties, interest charges, and unnecessary stress. Whether you need to file Form 1099, W-2, 940, 941, or 1095, this guide will walk you through the most important tax filing deadlines for 2025, helping

2025 IRS Tax Filing Deadlines: Important Dates for 1099, W-2, and Business Taxes Read More »

Choosing the Right 1099 Filing Service: What Gig Businesses Should Consider

blog /

As a gig business owner, managing tax compliance is a crucial part of your operations. With the rise of the gig economy, independent contractors and freelancers rely on accurate 1099 forms to report their income. Ensuring timely and correct filing of Form 1099 is essential to avoid IRS penalties and keep your business running smoothly.

Choosing the Right 1099 Filing Service: What Gig Businesses Should Consider Read More »

Understanding Backup Withholding and Its Impact on Form 1099 Recipients

blog /

Introduction Backup withholding is an essential tax mechanism that ensures the IRS collects taxes from individuals and businesses that may not otherwise comply with tax reporting requirements. It applies mainly to payments reported on Form 1099, such as interest, dividends, and independent contractor earnings. Understanding backup withholding, when it applies, and how it impacts Form

Understanding Backup Withholding and Its Impact on Form 1099 Recipients Read More »

The Importance of Accurate TIN Matching for Form 1099 Filings

blog /

Introduction Ensuring the accuracy of Taxpayer Identification Numbers (TINs) is a critical aspect of filing Form 1099. The TIN, which is often the Social Security Number (SSN) or Employer Identification Number (EIN), serves as a unique identifier for taxpayers in the United States. Incorrect TIN reporting can result in a range of problems, including IRS

The Importance of Accurate TIN Matching for Form 1099 Filings Read More »

The Impact of Lower 1099-K Thresholds on Gig Economy Workers

blog, 1099-K /

The gig economy has witnessed remarkable growth over the past decade, with millions of individuals now earning income through various online platforms such as Uber, DoorDash, and Etsy. This shift has reshaped the traditional workforce, offering workers more flexibility and autonomy. However, recent changes in tax regulations, particularly the lowering of the 1099-K reporting threshold,

The Impact of Lower 1099-K Thresholds on Gig Economy Workers Read More »

The Risks of Filing Form 1099 Late: How to Avoid Costly Mistakes

blog /

Filing Form 1099 is an important responsibility for businesses and individuals who pay non-employees, contractors, or freelancers. Missing the filing deadline can lead to serious problems. Here are filing Form 1099 late, don’t take risks, and learning how to avoid mistakes can save time, money, and stress. Why Filing Form 1099 on Time Matters The

The Risks of Filing Form 1099 Late: How to Avoid Costly Mistakes Read More »

IRS Reminder: Final 2024 Quarterly Estimated Tax Payment Deadline is January 15

IRS Reminder: Final 2024 Quarterly Estimated Tax Payment Deadline is January 15

blog /

As the new year unfolds, it’s crucial for taxpayers who make quarterly estimated tax payments to remember an important deadline: January 15, 2025. This date marks the final chance to pay the fourth-quarter estimated taxes for the 2024 tax year. Failing to meet this deadline can lead to penalties and interest, so it’s important to

IRS Reminder: Final 2024 Quarterly Estimated Tax Payment Deadline is January 15 Read More »