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The nation’s tax filing season kicked off Monday for 2023 federal tax returns. ... The 1099 forms include: 1099-NEC for nonemployee compensation. 1099-MISC for miscellaneous income.
The total amount of all income reported on Form 1099-NEC, which has replaced Form 1099-MISC for independent contractors, is included on Line 1 of the Income part of the Schedule C.
For the 2023 tax season, ... Deadline for employers to send W-2 forms. This is also the deadline to send certain 1099 tax documents, like 1099-NEC documents for self-employed side income.
Form 1099 is also used to report interest (1099-INT), dividends (1099-DIV), sales proceeds (1099-B) and some kinds of miscellaneous income (1099-MISC). Blank 1099 forms and the related instructions can be downloaded from the IRS website.
In the United States, any company or organization engaged in a trade or business that pays more than $600 to an independent contractor in one year is required to report this to the Internal Revenue Service (IRS) as well as to the contractor, using Form 1099-NEC. This form includes the money paid, contractor's name, social security number ...
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
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