Box 7 on Form 1099-R uses alphanumeric codes. Ideally, to tell the IRS if your retirement distribution is: Taxable Subject to a 10% penalty A tax-free rollover Common codes include…
If you are currently hunting for the federal tax return address for a refund, you’re probably just trying to get your money back in your pocket as fast as possible.…
Got both Form 1099-K and a 1099-NEC this year? Breath easy! Many drivers and freelancers are seeing both in their mailboxes. While both forms are used to report taxes, they…
In the US, employers are responsible for reporting payroll taxes to the IRS. We basically deal with two forms to report employment taxes, Form 941 and 943. These forms are…
Selling a home is a whirlwind of paperwork. Most people assume the IRS gets a copy of everything. However, many real estate deals are actually exempt from Form 1099-S. Knowing…
Dreading the thought of sorting through Hundreds of payment records this tax season?
It’s not just you! Everyone in business is dealing with the same challenge right now. But here is…