What’s Changing With the 1099-K Reporting Threshold for 2027?
The 1099-K threshold isn’t dropping to $600. Learn what OBBBA’s $20,000/200-transaction rule means for 1099-K filing in 2027.
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Can You Get 1099 Penalties Waived Under IRS Reasonable Cause Relief?
Learn how your business can request IRS reasonable cause relief to waive 1099 penalties, prove hardship, and successfully remove fines.
Do Staffing Agencies Need to File 1099s or W-2s for Placed Workers?
Learn whether staffing agencies must issue 1099s or W-2s for placed workers. Understand tax obligations for agencies and client businesses.
Do Attorneys and Legal Settlements Require a 1099-NEC or 1099-MISC?
Payments made to attorneys for legal services require a 1099-NEC form, while gross settlement proceeds require a 1099-MISC. Master IRS reporting rules to avoid penalties.
What Is the 1099-S Form and When Is It Required for Real Estate Transactions?
The 1099-S form is used to report proceeds from real estate transactions to the IRS. Learn who is responsible for filing, which transactions are exempt,
What Is a 1099 for Contractors vs. Employees and Why Does It Matter for Your Business?
Confused about 1099 vs. W-2 workers? Learn the IRS criteria for classification, the risks of mid-year errors, and how to correct worker status before tax
What 1099 Forms Do Real Estate Agents and Brokerages Need to File?
Real estate brokerages must file 1099-NEC for commissions and 1099-MISC for rent. Learn the specific requirements for agents, referral fees, and transaction proceeds.
What Types of 1099 Errors Require a Correction Form?
Not every 1099 mistake requires a correction form. Learn which errors the IRS requires you to fix, the difference between Type 1 and Type 2
Does the IRS Match Every 1099 Form With Tax Returns?
Does the IRS match every 1099 form? Learn how IRS matching works, what triggers discrepancies, and how to avoid penalties with accurate reporting.
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– Filer/Company is the Employer in the case of W-2 forms, and the Payor in the case of 1099 Forms. The Filer/Company is also sometimes called the Client. Filer is the company or person who paid the money and is responsible for filing to the IRS or SSA and responsible for IRS and SSA compliance activities.
– The Payee is the person, estate, trust, or other entity who received the money. The payee is also sometimes called the recipient or employee.
– e-Filing or electronic filing, means sending a copy of Form 1099 or W-2 to the IRS in a formless way using electronic transfer. Transmittal Forms 1096 or W-3 is never needed when e-Filing.
– The Payee is the person, estate, trust, or other entity who received the money. The payee is also sometimes called the recipient or employee.
– e-Filing or electronic filing, means sending a copy of Form 1099 or W-2 to the IRS in a formless way using electronic transfer. Transmittal Forms 1096 or W-3 is never needed when e-Filing.