With the 2025 tax filing season underway, be aware that the W2 and 1099 deadline is coming up fast for businesses to submit certain information returns to the federal government and furnish them to workers. By January 31, 2025, employers must file these forms and furnish them to recipients: W2 Forms Form W-2, Wage and
There are two types of 1099 forms: Form 1099-NEC Form 1099-MISC Below, we’ll cover who gets a 1099, breaking it down by form type. Who gets Form 1099-NEC? Non-employee contractors Non-employee contractors are the most well-known recipients of 1099s. (Important: Here’s how to properly classify an independent contractor vs. an employee.) If you made payments
Now is the time to review annual payroll reporting requirements. In this post, we’ll cover 1099 reporting and fringe benefits.
There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation (Form 1099-NEC), and it’s due soon.
For taxpayers who’ve turned to gig work this year it’s critical to understand the income tax responsibilities for gig workers.
The classification of workers as independent contractors or employees has significant implications — both tax and nontax — for all businesses.
A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors and others.