A Comprehensive Guide on How to Verify W-9 Information
Do you know a study conducted by payroll software provider Gusto in 2022, found that 34% of businesses said they had experienced fraud related to …
Form 1099-NEC: Your Guide to Reporting Non-Employee Compensation
Navigating Form 1099-NEC can seem daunting, but it doesn’t have to be. In this guide, we’ll walk you through everything you need to know about …
What is Form 1099 and how do I fill out a 1099 form?
A 1099 form is used as an example of a collection of documents generally referred to as “information returns” by the Internal Revenue Service (IRS). …
How Often Should a W-9 be Updated?
Organizations may want to update the W-9 form for each vendor or payee annually or whenever there is a change in the vendor’s or payee’s …
IRS Delays Implementation of $600 Reporting Threshold in Form 1099-K for 2023, Plans to Set $5,000 Threshold for TY 2024
The IRS has postponed the introduction of the $600 threshold for 1099-K reporting by third-party settlement organizations for the calendar year 2023, citing the need for additional …
What Organizations Need to Know About Form 1099-NEC for Non-Employee Compensation
Tax season is upon us, and for many organizations, that means grappling with the intricacies of Form 1099-NEC for non-employee compensation. If you’re an organization …
A Comprehensive Guide to Deadlines for Sending 1099 Forms
If you’re a business owner, you’re likely aware of the need to send 1099 forms, or you rely on your accountant to do it for …
Penalties for Missing the 1099-NEC or 1099-MISC Filing Deadline for 2024
Businesses need to complete and submit Form 1099-NEC by January 31 (or the following business day if it’s a weekend or holiday) to report payments …
IRS Form 1099-NEC Due Date 2024
Business taxpayers are required to file Form 1099-NEC by the due date to avoid late filing penalties. Form 1099 NEC Deadlines / Due Dates Action Deadline Furnish …
IRS Form 940 Changes for TY 2023
The IRS Form 940, Employer’s Annual Federal Unemployment (FUTA) Tax Return, is used to report FUTA taxes to the IRS. Employers must submit Form 940 …