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  2. How to Issue Form 1099 - AOL

    www.aol.com/issue-form-1099-040000623.html

    The IRS currently has 21 different versions of Form 1099, but the two primary types you need to know are the 1099-MISC and the 1099-NEC. You need to fill out Form 1099-MISC if you paid more than ...

  3. IRS 1099 Tax Form Explained: Here’s Everything You ... - AOL

    www.aol.com/irs-1099-tax-form-explained...

    However, the 1099-MISC has been replaced with the 1099-NEC for independent contractors. Form 1099-MISC, Miscellaneous Income, is still used for at least $10 in royalties or at least $600 in rent ...

  4. Form 1099-MISC - Wikipedia

    en.wikipedia.org/wiki/Form_1099-MISC

    In the United States, Form 1099-MISC is a variant of Form 1099 used to report miscellaneous income. One notable use of Form 1099-MISC was to report amounts paid by a business (including nonprofits [1]: 1 ) to a non-corporate US resident independent contractor for services (in IRS terminology, such payments are nonemployee compensation), but starting tax year 2020, this use was moved to the ...

  5. Qualified Performing Artist Deduction - Wikipedia

    en.wikipedia.org/wiki/Qualified_Performing...

    The phaseout would reduce the amount of the deduction by 10% for each $2,000 (or fraction thereof) the taxpayer's AGI exceeds the AGI limit. In other words, a partial deduction would be allowed up to AGI's of $120,000 ($220,000 for married couples). Index the limits to inflation for tax years subsequent to 2019.

  6. Independent contracting in the United States - Wikipedia

    en.wikipedia.org/wiki/Independent_contracting_in...

    The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...

  7. Tax tip: Don't file until you get all necessary documents - AOL

    www.aol.com/tax-tip-dont-file-until-110055787.html

    Tax filing season is officially underway and taxpayers should be on the lookout for W-2 and 1099 forms, among other tax ... contractors who earn over $600 in a calendar year will receive a 1099 ...

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