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 […]
1099 Forms
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
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.
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
Real Estate Professionals: Navigating 1099-S Reporting Requirements
If you’re involved in real estate transactions—whether as a broker, title company, attorney, or closing agent—you may be responsible for
Form 1099-Q: Understanding Education Savings Plan Distributions
Paying for education is expensive, but thankfully, certain tax-advantaged savings plans can help. If you’ve contributed to or used a
You have identified your file as a correction; however, the data is not coded with a ‘G’ or ‘C’ in position 6 of the ‘B’ record(s).
❌ The Error “You have identified your file as a correction; however, the data is not coded with a ‘G’
Application Process for a FIRE TCC
Step 1: Create an IRS E-Services Account Before applying, you must register with IRS E-Services: Visit: https://www.irs.gov/e-services Create a Secure