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For a variety of reasons some Form 1099 reports may include amounts that are not actually taxable to the payee. A typical example is Form 1099-S for reporting proceeds (not gain) from real estate transactions. The Form 1099-S preparer will report the sales proceeds without regard to the amount of the taxpayer's "basis" in the real estate sold.
The IRS is working hard to inform the 9 million households who may be eligible for the Child Tax Credit or other pandemic-related stimulus funds that they can still collect their money. Beginning ...
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.
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 ...
The Ohio Legislature passed what has been dubbed a “Parents’ Bill of Rights” on Wednesday, sending it to the Republican governor’s desk where it is most likely to be signed. The ...
Sep. 7—WILKES-BARRE — U.S. Sen. Bob Casey this week said an estimated 2.7 million children in the United States are being raised by grandparents, other relatives, or close family friends.
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