Individuals who work as subcontractors and NOT as employees may receive a Form 1099-NEC which reports their nonemployee compensation paid by the company. This video discusses where a taxpayer can report those amounts.
Some taxpayers may receive a 1099 with incorrect information. The 1099 could also be issued under fraudulent circumstances. Here are some tips on how to correct the issue.
Many individuals and businesses use Fiverr to find work. Those earnings are generally taxable for U.S. persons and should be reported on their income tax return. This article and video discusses those reporting options.
When a company pays an independent contractor compensation, those payments are generally reportable on Form 1099-NEC. This article and video cover the Form 1099-NEC reporting requirements.
Form 1099-NEC is filed by U.S. entities when they pay nonemployee compensation to an individual or business. Nonresidents that work for U.S. companies generally receive a Form 1042-S instead of Form 1099-NEC.
The IRS Form W-9 withholding certificate is collected from individuals and companies to verify their name, address, tax ID number, and U.S. tax classification. Businesses should always collect Form W-9 before making payments in connection with their business.
The Form 1099 is filed by businesses to report certain types of income paid to taxpayers. If a taxpayer did not receive a Form 1099 when they were supposed to, they have a few options.
