Archive for 1099

Missing Important Tax Forms? Here’s What To Do

Form W-2

You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers must furnish this record of 2017 earnings and withheld taxes no later than January 31, 2018 (allow several days for delivery if mailed).

If you do not receive your Form W-2, contact your employer to find out if and when the W-2 was mailed. If it was mailed, it may have been returned to your employer because of an incorrect address. After contacting your employer, allow a reasonable amount of time for your employer to resend or to issue the W-2. Read More

Written by | Posted in 1099 • Tax Forms

How To File Taxes With A 1099 Tax Form

If you’re a 1099 worker, your tax life is very different than that of employees. It’s vitally important to understand how to file your taxes when you’re a 1099 worker, or you can end up in big trouble with the IRS.

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Written by | Posted in 1099 • Advertorial • MILEIQ • United States

What the IRS Does Not Mention About Crowdfunding And Taxes

Annette Nellen

In Information Letter 2016-0036, released June 24, the IRS explains general rules that might apply to someone’s receipts of funds via a crowdfunding platform. It doesn’t mention any websites, but examples include Kickstarter and GoFundMe. The IRS notes the broad rule of Section 61 that receipt of funds is likely to be taxable gross income.

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Written by | Posted in 1099 • Crowdfunding • IRS

Effect of Workman’s Compensation On Taxability Of Social Security Benefits

Harold Goedde

Workman’s compensation for on-the-job injuries is non-taxable if it is to compensate the employee for medical care. But when a person also receives Social Security disability benefits, these benefits can increase the amount of Social Security subject to tax. This article will describe how this interaction occurs and its effect on the amount of taxable Social Security and increase in tax owed.

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Written by | Posted in 1040 Tax Calculator • 1099 • Disability • Social Security

2016 Important Tax Filing Dates And Tax Deadlines To Know

We want to provide you with important tax dates and tax deadlines during 2016. Keep this list for reference throughout 2016! Check the list to ensure you have met all tax filing obligations for these dates.

January 15, 2016

January 15th is the tax deadline for self-employed people and for others who pay quarterly estimated tax to pay their 4th quarter 2015 tax payment.

 January 19,  2016 Read More

Written by | Posted in 1099 • Tax Changes • Tax Compliance • Tax Dates • Tax Extensions 2016 • Tax Filing • Tax Forms