Look Out for Most Tax Forms, Including Your W-2, by February 1
Most Forms W-2 and other tax forms are due to taxpayers by February 1, 2021. Here’s what to do if your tax forms are late, missing, or incorrect.
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‘New’ Form 1099-NEC Targeted To Freelancers & Gig Workers
Last year, the Internal Revenue Service introduced a draft version of a form that we haven’t seen since 1982: Form 1099-NEC, Nonemployee Compensation. Form 1099-NEC is intended to replace the nonemployee compensation part of a form many of us have come to know and love: Form 1099-MISC, Miscellaneous Income. Form 1099-MISC is sticking around for…
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IRS Introduces New(ish) Form To Replace Parts Of Form 1099-MISC
It’s true: Simple is hard. In an effort to make things easier for taxpayers and tax forms issuers, the Internal Revenue Service (IRS) is bringing back form 1099-NEC, Nonemployee Compensation. If that rings a bell, you’re showing your age: we haven’t seen this form since 1982. The IRS initially announced the return of form 1099-NEC…
