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A 1099 tax form is a statement that details an amount of money that you were paid. Learn about this important tax document and the different 1099 versions.
Another common tax document is the 1099 which comes in several forms, including the 1099-INT which reports interest income of $10 or more from banks and other financial institutions; 1099-DIV ...
The total amount of all income reported on Form 1099-NEC, which has replaced Form 1099-MISC for independent contractors, is included on Line 1 of the Income part of the Schedule C.
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.
Short title: Form W-8BEN (Rev. February 2006) Author: SE:W:CAR:MP: Image title: Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding
This has led to the phrases "1099 workers" and "the 1099 economy" to refer to those whose income is reported on Form 1099, in contrast to a "W-2 employee" who receives Form W-2. [ 2 ] [ 3 ] Blank 1099 forms and the related instructions can be downloaded from the IRS website.
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