Don’t delay filing your tax return even if your 1099-K is incorrect, the IRS said. For example, if the taxpayer ID on your 1099-K is incorrect, enter the amount of the 1099-K on your return as ...

According to the IRS, for 2024, businesses and workers are required to report income of $5,000 or more from these apps. In ...

For example, you’ll receive a 1099 reporting ... However, in 2024, you'll receive a 1099-K if your business transactions total just $5,000 (personal payments, like gifts and reimbursements ...

Independent contractors can lower their tax bill by writing off business costs like travel and insurance but should consult a ...

For example, if a person earned $3,000 through PayPal and $2,600 through Venmo, they made a total of $5,600 in taxable income ...

Take a taxpayer who received a 1099-K showing $10,000 in payments for goods sold through an online platform such as Etsy, but did not report it on their tax return, for example. If the IRS matches ...

In the final days of tax season, tax professionals have been grinding through their clients' tax returns while trying to ...

Unlike a full-time employee whose taxes are deducted from their paycheck, if you're an independent contractor, it's your job to pay taxes on your own—and you'll want as many 1099 tax deductions ...

Supercharge Your Passive Income. Every $1,000 Invested in This Top High-Yield Dividend Stock Can Produce $75 in Income Each ...