The tax form 1099-C is used to record a cancellation of debt. While debt cancellation is good news for an individual or business, it still leads to more taxes. The IRS generally considers any ...

If you are an employed physician, regardless of setting, your career will be rewarding in many ways, including the sense of ...

Nearly 150 new Florida laws went into effect July 1 and some of them make big changes you need to know. Here's the list.

Bondholders receive IRS Form 1099-INT (or Form 1099-OID) from entities that paid them interest on the bonds in which they invested. Selling bonds may incur capital gains tax for investors.

A Schedule K-1 is a federal tax form that business partnerships and S corporations use to report a partner's share of the income, losses, capital gains, dividends, and other items.

However, the IRS has not actively pursued this in the past. When taxable rewards reach or exceed $600 in a year, the issuing company will send a Form 1099-MISC to report these earnings.

This guide details exactly what you need to file with the IRS when working with freelancers and other non-employee providers, explains why it’s important, and offers tips to help you avoid costly ...

If your income was $84,000 or less in 2024, you may be able to file your taxes through IRS Free File, a program in which online tax prep companies partner with the IRS to provide free services.

Under updated IRS rules, third-party payment processors must now issue a 1099-K for total transactions exceeding $600 annually - a steep drop from the previous $20,000 threshold.

The bill that passed the Senate includes a $6,000 senior tax deduction, compared with the House’s $4,000 deduction.