If you’re an employee, you’ll receive a W-2. And if you’re an independent contractor, you’d receive a 1099 form. Likely, you ...

What is a Form 1099-MISC? A 1099-MISC is a type of tax form. It is used to report miscellaneous income for individuals and companies who have been paid $600 or more in non-employee service payments ...

Misclassifying W-2 employees as 1099 contractors has severe penalties. Learn the biggest difference between the two types of ...

This new, much lower threshold for the 1099-K (also known as the ... used now instead of the 1099-MISC. The form is used by businesses to report non-employee compensation. So generally, when ...

You might be paying someone for services, either as an independent contractor or as an employee ... you received a Form W-2 or 1099. The U.S. Treasury Department has proposed new rules meant ...

new way to report self-employment income ... you reported it on Form 1099-MISC, in Box 7, for non-employee compensation. For 2019 and prior years, putting income in Box 7 of a Form 1099-MISC ...

Fortunately, there are plenty of tax-advantaged options available for 1099 workers ... the SECURE 2.0 Act passed by Congress has numerous new provisions that are coming to bear in 2024, including ...

IRS 1099-K reporting ... of any new thresholds to the 2024 tax year. Third-party payment platforms and online marketplaces won't be required to report 2023 transactions on a Form 1099-K to the ...

If you regularly make over $20,000 in freelance income, are paid through Venmo, and receive more than 200 transactions in payments, you may have received a 1099-K tax form before. Under new ...