The Difference Between Information Returns and Tax Returns
When it comes to filing with the IRS, not all forms are created equal. Two major categories—information returns and tax […]
Why You Should Review Form 1042 Before Filing Form 1042-S
When it comes to withholding and reporting payments to foreign persons, many filers focus on Form 1042-S—the statement issued to
Understanding the Codes and Fields on IRS Form 1098-T
If you’re a student or the parent of a student, you’ve likely received IRS Form 1098-T, the Tuition Statement. This
1042-S Chapter 3 and 4 Status Codes
On Form 1042-S, the Chapter 3 Status Code (Box 12) and Chapter 4 Status Code (Box 13i) are used to
How to Minimize Penalties After a Missed Deadline
1. File As Soon As Possible The IRS uses a tiered penalty system based on how late your filing is.
Understanding the Differences Between Forms 1095-B and 1095-C
Under the Affordable Care Act (ACA), certain employers and insurers are required to provide forms detailing health coverage information to
State-Specific 1099 Filing Requirements: What You Need to Know
Navigating 1099 filing requirements across different states is crucial for businesses and individuals to ensure compliance and avoid penalties. Here’s
Alabama 1099 Filing Requirement
Who Must File 1099 Forms in Alabama? Any individual or entity conducting business in Alabama that makes non-wage payments of
Form 1042-S vs. 1099: Correctly Classifying Payments to Foreign Contractors
When working with independent contractors, one of the most important tax compliance steps is ensuring that payments are reported on
What Is IRS Form 8955-SSA and Who Must File It?
If you sponsor or administer a retirement plan, you may be required to file IRS Form 8955-SSA, but many plan