When you perform a 1035 exchange, you must report the transaction using IRS Form 1099-R. There are several scenarios where a 1035 exchange might be beneficial. For instance, suppose your current life ...

Sovos, the always-on compliance company, today announced the launch of 1099 Professional, a new solution designed to simplify tax information reporting for small and medium sizes businesses (SMBs).

For small businesses, understanding and adapting to new tax laws is crucial for maintaining financial health and ensuring compliance. The year 2024 has introduced significant tax legislation that ...

This tax reporting change will be implemented in phases. It could be delayed again, but freelancers should plan ahead.

Freelancers and independent contractors have to fill out Form W-9 for their employers and clients. Here's what to do and how ...

Tax breaks are made possible by tax laws and typically come in the form of credits and deductions. Other tax breaks include exemptions and excluding certain types of income from your state or ...

"IRS Releases Tax Inflation Adjustments for Tax Year 2025." Internal Revenue Service. "About Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return." Bloomberg. "Bloomberg ...

If you pay independent contractors $600 or more annually, you must report those payments to the IRS on Form 1099-NEC. The process is fairly simple if you only need to send one or two, but it gets ...