If you receive tax form 1099-NEC for services you provide to a client as an independent contractor and the annual payments you receive total $400 or more, you'll need to file your taxes a little differently than a taxpayer who only receives regular emplo
How to file taxes: 7 steps You wouldn’t be wrong for feeling that taxes are often shrouded in mystery. As your tax situation becomes more complex, so can the filing process. Be that as it may, here are seven steps to follow when filing your taxes that should simplify the process for...
Many new Lyft drivers have the misconception that they only need to report income reported on a 1099. This isn’t true; all income must be reported. Failing to report your income can cause tax problems down the road. The IRS can audit your taxes going back three tax years (...
The 15.3% tax rate is the employer and employee shares of taxes. Like W2s, 1099 forms are considered information returns, which means they contain information about a taxpayer but do not detail tax liabilities. What is the purpose of the 1099 form? The IRS uses the 1099 to track non...
File taxes when you have both 1099-MISC and W-2 income. How to file 1099-MISC forms using an e-file service. Get back to us if you have other questions about tax forms. I'm always here to answer them for you. Take care and have a great...
Do I need a 1099 to file my taxes? Yes. You'll need your 1099 to accurately report your income on your tax return. Remember that a copy of this form is also sent to the IRS, so you can be sure the agency knows about this income. However, simply receiving a 1099 t...
Also, a key disclaimer –an extension of time to file is not an extension of time to pay. Any taxes due are still due on the normal filing deadline date. If you don’t pay by the deadline, you could owe interest and possibly a penalty on taxes owed. ...
Taxes are due soon — here's how you can get them done fast It's no secret that completing your tax return is usually a lengthy process, but that process can help deliver you a solid refund this year. According to theIRS,the average return so far this yearis over $3,200. So investi...
Jones, Greg S
Many American taxpayers wait until the April 15 (April 18 in 2023) deadline to complete and file their taxes. However, if procrastination stresses you out—or if you're expecting a refund and you want it as soon as possible—you can file your 2022 return as early as Jan. 23, 2023.1 ...