If you accept credit card payments online, you may have to report payments that you receive from credit card or third-party processors on your 1099-K forms.
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I’ve known Ron for several decades, and during that time he has saved me a tremendous amount of both money and sleep. My first request to Ron those many years ago was for help with an IRS audit, looking for thousands and thousands of dollars in back taxes I did not owe. I tried ...
ITIN, or (rarely) an EIN for 1099s. There is a form to formally ask someone’s tax ID number; it is theW-9. One only uses the W-9 with US taxpayers; if someone is not a US person (for example, if you’re employing someone overseas), you’ll...
The IRS tells you that you are subject to backup withholding because you did not report all your interest and dividends on your tax return (for reportable interest and dividends only), or 5. You do not certify to the requester that you are not subject to backup withholding under 4 above ...
Although the software is very intuitive and user friendly, this did not mask the less than scrupulous business practices of NAB, its credit card processor. NAB has a long history, upon cancellation attempts, of trying to take money out of Small Business customer accounts with claims that they ...
if someone is not a US person (for example, if you’re employing someone overseas), you’ll want to get them to give you aW-8BENinstead. (This provides a paper trail in the event the IRS asks, “Why didn’t you file a 1099 for that contractor?”“They don’t have US tax liabili...
Levy and Notice of Your Right to A Hearing,” should immediately get in touch with the IRS. Even at this ultra-super-late-final-notice-why-did-you-wait-so-long-stage, youstillmight be able to make arrangements to pay your tax liability, instead of having the IRS go to town with a ...
They didn’t even know how to spell HTML, but ended up figuring out how to make a profitable store online within a year. Listen to the podcast if you’re curious how they did it. Here’s another episode abouta guy who started his own shoe company. ...
Levy and Notice of Your Right to A Hearing,” should immediately get in touch with the IRS. Even at this ultra-super-late-final-notice-why-did-you-wait-so-long-stage, youstillmight be able to make arrangements to pay your tax liability, instead of having the IRS go to town with a ...