Home » Blog » irs form 1099 misc form 1099 online

irs form 1099 misc form 1099 online

What are the differences between Form 1099 INT & 1099 OID?

Form 1099 INT & Form 1099 OID Differences: To report interest paid throughout the tax period; which 1099 Tax Form would you choose? 1099 INT or 1099 OID? Confusing right! Form 1099 INT is used to report interest income made on the investment made in the banks or any other financial distribution. Coming to Form 1099 OID, used to report Original Issue discount made on the bonds, CDs, notes, etc. Know the detailed info & the differences between these two tax forms and report the interest income on the right form. Therefore, understanding which tax form to use helps you …

What are the differences between Form 1099 INT & 1099 OID? Read More »

Why Did I Get a 1099 K Tax Form?

Why Did I Get a 1099 K Tax Form: Most of the business owners who run online businesses receive 1099 K at the year-end. Confusing right? Generally, online business owners accept payments through credit/debit or third-party networks. Thus, payments made or received through a credit/debit are considered payment card transactions. This means payment cards or third-party networks are involved in processing the payment. Getting confused? We will let you know why did you get an IRS Form 1099 K at the year-end. You will also get to know about the circumstances in which an individual receives the tax return. Find …

Why Did I Get a 1099 K Tax Form? Read More »

Form 1099 MISC Box 7- Major Changes in 2020

Form 1099 MISC Box 7- Major Changes in 2020: Did you hire a contractor and pay him $600 or more in the prior year? If “Yes”, then you need to file an information return with the IRS. As per the IRS, the non-employee compensation and miscellaneous income were reported on the same form previously. But now from 2020, these two payments are reported in two different forms. We will let you know about the major changes taken in IRS Form 1099 MISC. You will also get to know why the change occurred in the 1099 information returns. We also provide …

Form 1099 MISC Box 7- Major Changes in 2020 Read More »