Issuers of these payments are obligated to notify the IRS that the transactions have taken place, and they do so by submitting the appropriate 1099 form. The IRS then compares a taxpayer's return ...

By Dr. Lori Verderame Online resellers are everywhere. Millions of people are bringing home extra income with a side hustle, online selling gig, or reselling business. Whether you are running a ...

A 1099 form is a record that an entity or person (not your employer) gave or paid you money. One copy goes to you and another copy goes to the IRS. Many, or all, of the products featured on this ...

For the 2024 tax year, you should get a Form 1099-K from Ticketmaster if you receive more than $5,000 from reselling tickets ...

Learn which payment apps report transactions to the IRS, including Zelle, Venmo, and CashApp. Understand how reporting requirements affect your taxes in 2024.

Form 1099-C reports canceled debt to the IRS when a creditor has forgiven or erased a balance owed so a taxpayer no longer has to pay it. What Is Form 1099-C: Cancellation of Debt? Lenders must ...

and also corrective steps you can take if your form comes to you with incorrect information: The implementation of the 1099-K threshold was delayed twice because online sellers and third-party ...

The regulatory environment for digital assets will have significant implications for state-level reporting requirements.

If you're receiving payments on platforms like Venmo or PayPal, you'll likely get 1099-Ks at tax time. What are they and what ...