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  2. Heads up if you’re a freelancer or small business owner: The ...

    www.aol.com/heads-freelancer-small-business...

    Small business owners, independent contractors and gig workers soon will be getting 1099-K tax forms if they used any payment platform on which they had at least $5,000 in business transactions in ...

  3. Entity classification election - Wikipedia

    en.wikipedia.org/wiki/Entity_classification_election

    An eligible entity is classified for federal tax purposes under the default rules described below unless it files Form 8832 or Form 2553, Election by a Small Business Corporation, to elect a classification or change its current classification. The IRS uses the information entered on the form to establish the entity's filing and reporting ...

  4. IRS tax forms - Wikipedia

    en.wikipedia.org/wiki/IRS_tax_forms

    As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for such returns.

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  6. Form W-9 - Wikipedia

    en.wikipedia.org/wiki/Form_W-9

    Form W-9 is most commonly used in a business–contractor arrangement. [4] Businesses can use Form W-9 to request information from contractors they hire. When a business pays a contractor over $600 during a tax year, the business is required to file Form 1099-MISC, a variant of Form 1099. To fill out Form 1099-MISC, the business may need to ...

  7. Lawmakers want to change how the IRS corrects tax mistakes - AOL

    www.aol.com/lawmakers-want-change-irs-corrects...

    The IRS MATH Act would require the IRS to identify the line item the IRS is changing, explain the reason for the change and clearly list the taxpayer’s required response date. The time to ...

  8. IRS postpones rule change on digital payment reporting for ...

    www.aol.com/finance/irs-postpones-rule-change...

    For the second year in a row, the IRS has decided to postpone implementation of a rule change that might have resulted in 44 million more 1099-K forms being sent in January to tax filers who ...

  9. The IRS just made a ruling on 401 (k) company matches that ...

    www.aol.com/finance/irs-just-made-ruling-401...

    In August, the IRS provided the so-called private letter ruling to the unnamed company, stating that they could offer workers more flexibility with their 401(k) accounts. At the beginning of each ...

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