Learn about Form 1095-C, created under the Affordable Care Act. Understand employer obligations to provide health insurance information to employees and how this form impacts your tax filing.
Form 1095-B is a tax form that reports the type of health insurance coverage you have, any dependents covered by your insurance policy, and the period of coverage for the prior year. This form is used to verify on your tax return that you and your depen
What is a Form 1099-C? Information provided by PayPal is not intended to be and should not be construed as tax advice. For questions about your specific tax situation, please consult a tax professional. Form 1099-C is used to report information to the US Internal Revenue Service (IRS) whe...
A form 1099-R is a tax form for reporting income from a retirement fund in the US. Taxpayers don't have to fill it out, since the...
What Is a Schedule K-1 (Form 1065)? In a Partnership, the company’s profit or loss gets divided among the partners according to their distributive share (usually ownership percentage) as described in the company’s partnership agreement. A Schedule K-1 (Form 1065) must be prepared for eac...
Box 2: You need to check this box in case you sold $5,000 or more for resale or other purposes. Remember that the total amount is not reported on this form, but it gets included on your small business tax return (usually Schedule C). Box 4: Here, any federal income tax withheld ...
Form 1096 for State Taxes How To Make Corrections Photo: Dan Rentea / Getty Images IRS Form 1096 is a summary and transmittal tax form that gives the IRS information on the Forms 1097, 1098, 1099, 3921, 3922, 5498, or W-2G your company sent out to other recipients. Your business need...
What is a 1099-K used for? What do I do with it? If you receive a 1099-K form, it generally includes the gross amount of all the reportable payment transactions from the platform (payment settlement entity) . The platform or app you used will send two copies of your 1099-K informatio...
Form 1099-G, Certain Government Payments is a form filed by federal, state, and local government agencies for payments made to taxpayers. The form is sent to theInternal Revenue Service(IRS) and to taxpayers to report payments such as unemployment compensation as well as payments made on aComm...
Copy C is retained by the payer for record-keeping The payer includes their name, address, and tax identification number, as well as the recipient’s name, address, and Social Security number. The revised 1099-MISC form has different box numbers for reporting various types of payments—for in...