Tax season is officially underway in the United States and according to the Internal Revenue Service, more than 140 million individual tax returns for 2024 are expected to be filed ahead of the ...

Employers who pay independent contractors for work that is not paid through their payrolls do not take out deductions. The contractors file their own taxes and make the payments. As a result, ...

The 2025 tax season will have its quirks, gimmicks and gotchas. But right now anyway, many experts say most people should expect to see a timely tax refund. Fingers crossed. Taxpayers will still need ...

If part of running your business involves receiving or making payments of more than $600 for the use or occupation of property that you own, then you are going to need to report that 1099 rental ...

Earned income is generally recorded in two ways for federal tax purposes. There is W-2 income and 1099-MISC income. The former is for employees, either full- or part-time; the latter is for contract ...

Soon, you may be joining the millions of taxpayers who will be gathering the forms they need to file their federal, state, and local tax returns. If you receive Social Security benefits, one of the ...

With record-high inflation in 2022, many Americans took on side hustles to afford the increased costs of living. That included renting out part of their home, selling goods on sites like Etsy, ...

A little confused on how to handle this tax problem. Wife received an award from a national business organization last year. We received a 1099-MISC form with the amount of the award in the ...