Posts tagged as:

1099

Where The Heck Are My Tax Forms?

12 January 2012

Dear overeager taxpayers: As an employer and a tax professional, I am asking you in the nicest way possible: please be patient. I know you want to file your tax return already. Apparently you’re one of the lucky folks getting a refund this year. And I know you want your money. But give us some [...]

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IRS Offers Relief for Credit Card Reporting Requirements

1 November 2011

Panicked about those new form 1099-K (Merchant Card and Third Party Network Payments) requirements? Take a breath. The IRS has already figured out that things aren’t going terribly smoothly and is, as a result, offering “special transitional relief” for taxpayers and service providers. Contrary to some internet rumors, this isn’t the same as a free [...]

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Controversial 1099 Reporting Requirements Repealed

15 April 2011

Oh, new 1099 reporting requirements, we hardly knew ye… Remember those new 1099 reporting requirements that caused such a sensation when they were quietly sneaked slipped burrowed inserted into last year’s health care law? Under the terms of the Patient Protection and Affordable Care Act, businesses would have been required to issue a form 1099 [...]

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Taxes from A to Z: K is for Kickbacks

13 March 2011

Oh c’mon. You totally knew that I was going to choose kickbacks, right? The rules governing illegal activity and taxes are some of the most entertaining bits of the Tax Code, not that the bar’s terribly high to begin with… The specific section of the Code that references kickbacks can be found under Itemized Deductions [...]

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1099 Repeal Still All Talk, Not Law

8 March 2011

Congress had no problem sneaking in the now infamous 1099 expanding reporting requirements. But boy, they are having a devil of a time getting rid of it. The new rules, which expanded the reporting requirements significantly, were originally included in the health care bill passed over a year ago. The text, at Section 9006, was [...]

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Taxes from A to Z: C is for Corrective Distributions

5 March 2011

Retirement plans can be great vehicles for tax deferrals – but they can also be giant headaches when it comes to reporting for tax reasons. This is because there are so many technical rules that the potential for making a mistake is fairly high if you don’t know what you’re doing (taxgirl PSA: your plan [...]

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House Looks to Vote on 1099 Measure

19 February 2011

We apparently haven’t seen the last of the efforts to repeal Section 9006 of the Patient Protection and Affordable Care Act. If the name doesn’t ring a bell, it’s better known as the provision in the health care law which expands existing reporting requirements for businesses to issue forms 1099 to individuals and corporations providing [...]

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Health Care Repeal Fails But Key Tax Issue Sails Through

3 February 2011

You know how when you go to the gym at the beginning of the year, you can’t get a spot on treadmill because all of the new folks determined to make a change? All filled with vim and vigor and the best of intentions? (They’re also the ones wearing Uggs on the treadmill and talking [...]

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Ask the taxgirl: Estimating My Taxes

30 January 2011

Taxpayer asks: A place paid for me $663 for services performed. They said they will send me a 1099 at the end of the year. How do I figure the taxes to take out? taxgirl says: If you are paid without having any taxes withheld (meaning, generally, that you’re going to receive a form 1099) [...]

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Congress Tackles Health Care Law Repeal, 1099s

21 January 2011

This week, Republicans in the House voted to repeal the new health care law, setting up a showdown in the Senate and practically guaranteeing a veto from President Obama. Ahhh… This is what the new political landscape is going to look like, I guess. The measure to repeal the health care law was deemed so [...]

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