Form 1099-MISC Reporting in 1099-MISC Box 3: Legal Settlements, Prizes & One-Off Payments Let’s break down 1099-MISC Box 3, which, frankly, is the IRS’s catch-all for those payments that don’t fit anywhere else. Read More » June 30, 2025
Form 1099-MISC Prepaid Rent Mismatch: Avoiding IRS Red Flags on 1099-MISC Box 1 A guide for payers on how to correctly report prepaid rent and stay compliant with IRS rules. Introduction The IRS Read More » June 25, 2025
Form 1099-MISC What Types of Rent Belong in 1099-MISC Box 1? Confused about what types of rent to file in 1099-MISC forms? Here’s an overview of types of rent that belong Read More » June 20, 2025
Enterprise Common 1098-T Filing Mistakes Educational Institutions Make and How to Avoid Them Universities are legally obligated to issue IRS Form 1098-T to enrolled students who have made financial transactions related to tuition Read More » May 28, 2025
1095 Forms Streamline 1095-B Filing Across Multiple States Without Losing Accuracy More than 33 million, individuals in the U.S. have some form of health insurance, with more people using private health Read More » May 27, 2025
Updates ‘One Big Beautiful Bill’ Passes House- Here’s What You Need to Know Bill H.R.1, the One Big Beautiful Bill Act, will now move on to the Senate. On Thursday, the U.S. House Read More » May 23, 2025
Casino Industry High Stakes of Tax Reporting: IRS Reporting Rules for Casinos The casino industry is booming. In 2024 alone, it hit a record $71.92 billion in gross revenue in the U.S. Read More » May 21, 2025
5498 Forms What Is Form 5498? Everything you need to know about IRA Contribution What is Form 5498, Individual Retirement Arrangements (IRA)? File 5498 for payments made in settlement of a reportable payment transaction. Read More » May 20, 2025
1099 Forms Common Misconceptions About the Form 1099-K Reporting Threshold for 2025 TY If the new 1099-K reporting thresholds have you confused as an online seller, you’re not alone. But don’t worry — Read More » May 19, 2025
Enterprise Scaling 1098-T Filing for Growing Student Populations—Without Hiring More Staff Undergraduate enrollment in the U.S. is projected to grow by 9%, from 15.4 million in 2021 to 16.8 million by Read More » May 16, 2025
W-2 Forms What is Form W-2C, Corrected Wage and Tax Statements? IRS Form W-2C is used to report a correction to your original W-2 form from current or prior years. If Read More » May 14, 2025
1099 Forms Understand Everything about 1099 Correction: Type I and Type II Not everyone has a knack for names and numbers. Unfortunately, the IRS is not very sympathetic to name-TIN mismatches or Read More » May 10, 2025