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Basics of Form 1099MISC

Posted on January 22, 2014 at 4:35 PM Comments comments (4)

Basics of Form 1099-MISC:

 

Businesses report their certain payments on Form 1099s.Individuals receive Form 1099s for payments they receive. Most nonemployee payments above $600.00 in a year are reported on Form 1099. Most commonly used form is Form 1099 MISC. We shall confine major part of our discussion to this form. However for the purpose of general information, there are following types of Form 1099:


  1. ·1099-A: Acqu...
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Commonly used Income Tax Forms

Posted on December 9, 2013 at 3:40 PM Comments comments (0)

Most commonly used Federal Income Tax Forms:


There are three types of forms that are used to file Federal Income Taxes by majority of tax payers in America. These are 1040EZ, 1040A and 1040. There are other less common tax forms like 1040PR, 1040NR and 1040X. However we shall confine our discussion to three commonly used forms.


All income should be reported even if you have not received W-2, 1099s or any other relevant forms. I...

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