Loaned an employee money. Booked as an employee accounts receivable with payments being deducted from paycheck. Employee quit or was terminated and the debt has know become uncollectible ( not ...

What is a Form 1099-MISC? A 1099-MISC is a type of tax form. It is used to report miscellaneous income for individuals and companies who have been paid $600 or more in non-employee service payments ...

Internal Revenue Service form 1099-MISC reports miscellaneous income to the earner, the IRS and the earner's state. When the earnings information is listed on the 1099-MISC, the total refers to gross ...

The Internal Revenue Service has released a clarification for how to report credit and debit card transactions on the new Form 1099-K information-reporting form. For tax year 2011 the IRS said on its ...

Many taxpayers cheered in 2008 when the Housing and Economic Recovery Act, or HERA, was signed into law by President Bush. The bill was designed to provide "needed housing reform" and was intended to ...

My daughter asked for a pair of throwback Nike sneakers this week to match her ringer tees and scrunchies. Not to be outdone, my son wants a DeLorean. It feels like we’re heading back to the 1980s - ...

Despite COVID-19, the Internal Revenue Service is continuing forward with moving 1099-MISC Box 7, “Non-Employee Compensation” to a new form, the 1099-NEC. This is effective starting this tax year, ...

Your nonprofit company reports the money you pay your employees on their W-2 forms. If you pay at least $600 to a non-employee during the tax year, you report it to them and the IRS on Form 1099-NEC.