Breaking Down the W-2 Form: What Each Box Means for Your Taxes
The W-2 form is a crucial tax document that reports your annual earnings and the taxes withheld from your paycheck. […]
Understanding Form W-2G for Slot Machine Winnings
Form W-2G is an IRS tax form used to report gambling winnings, including those from slot machines, that meet certain
Paperwork Burden Reduction Act
As of 2024, a significant change has been introduced to the delivery requirements for Forms 1095-B and 1095-C. Employers are
How to File a 1099 for a Deceased Person or Business That Closed Mid-Year
If you need to file a 1099 for a deceased individual or a business that closed mid-year, you are still
State of Tennessee and IRS Form 1099-K Requirement
Tennessee requires businesses that file a 1099-K with the IRS to also submit a copy to the Tennessee Department of
Why would an Orchestra file Form 1042-S?
An orchestra files Form 1042-S when it makes payments to nonresident aliens (e.g., performers, conductors, or music licensors) for U.S.
How to Correct a Mistake on Form 592 After Submission
If you discover an error on California Form 592, you must file a corrected form to avoid penalties and ensure
How the IRS Matches 1099 Forms to Individual Tax Returns
The IRS uses an automated system to verify that taxpayers accurately report income listed on 1099 forms. This system, called
How to File 1099 Forms for Non-US Residents
If you hire non-US residents (foreign contractors), the 1099-NEC is usually NOT required unless the work is performed inside the
How the 1099 Reporting Process Has Evolved Over the Last Decade
The 1099 reporting process has undergone significant changes over the past decade, driven by technological advancements, shifts in government policy,