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 ...

The National Economic Council (NEC) has advised President Bola Tinubu to withdraw forthwith the National Tax Reform Bills before the National Assembly to allow for more consultations. Briefing ...

The NEC, presided over by Vice President Kashim Shettima ... On the proposed derivation-based VAT distribution model, which the Northern governors oppose, Mr Onanuga said the new tax model is designed ...

According to him, “NEC noted the need for sufficient alignment on the proposed reforms and recommended the withdrawal of the tax reform bill.” Makinde added that this decision was made for the ...

The national economic council (NEC) has asked President Bola Tinubu to withdraw the tax reform bills from the national assembly to give room for consultations. The council made the recommendation ...