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Form 1099-NEC vs. 1099-INT Filing the Right Form This Tax Season

Form 1099-NEC vs. 1099-INT: Filing the Right Form This Tax Season

As the 2026 U.S. tax season approaches, accurate information reporting is more important than ever. The IRS requires payers, whether individuals, businesses, or financial institutions, to report various types of payments made during the year through Form 1099 series. Among these, Form 1099-NEC and Form 1099-INT are two of the most frequently used forms, yet

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IRS Updates Reporting Rules for Excess Golden Parachute Payments Starting Tax Year 2025

The 2025-26 Tax year guide to how to file Form 1099-K: A full guide to taxpayers.

Form 1099-K will be provided to many individuals and small business owners in the year 2025-26 to disclose the payments made over a third-party network like PayPal, Venmo, Cash App, or online market place. Re-evaluating the rules and frequently asked questions on this form by the IRS, one must also understand how to handle this

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IRS Revises Reporting Rules for Excess Golden Parachute Payments

Starting with the tax year 2025, the IRS has updated the reporting requirements for excess golden parachute reporting payments. These payments are typically made to executives when a company undergoes a merger, acquisition, or significant change in ownership. Previously, these payments were reported in Box 14 of Form 1099-MISC. Beginning with filings for 2025, they

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Internal Revenue Service Finalizes New Reporting Rules for Digital Assets: What Tax Professionals Should Know

Internal Revenue Service Finalizes New Reporting Rules for Digital Assets: What Tax Professionals Should Know

The IRS has announced new reporting rules for digital asset transactions. Starting January 1, 2025, brokers dealing with digital assets must begin reporting these transactions using Form 1099-DA. These rules are part of a broader plan to bring more clarity and compliance to digital asset reporting, similar to how traditional securities are reported today. For

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IRS Keeps 2025 Reporting Rules Same, Prepares for 2026 Form Changes

IRS 2025 Tax Forms Unchanged, Prepares for 2026 Form Changes

The IRS has announced that there will be no changes to individual information returns or federal withholding tables for the 2025 tax year. This applies to new provisions introduced under the One Big Beautiful Bill Act of 2025 (OBBBA), which includes deductions for qualified overtime compensation and qualified tips. This decision aims to reduce disruptions

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