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How to report nonemployee compensation and backup withholding

There is a new Form 1099-NEC, Nonemployee Compensation for business taxpayers who pay or receive nonemployee compensation. Starting in tax year 2020, payers must complete this form to report any payment of $600 or more to a payee. Generally,...

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  • July 8, 2020

Missed the Income Tax Deadline – IRS Offers Help for Taxpayers

Special Edition Tax Tip 2012-06, April 19, 2012 The IRS has some advice for taxpayers who missed the tax filing deadline. Don’t panic but file as soon as possible. If you owe money the quicker you file your return,...

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  • April 19, 2012