For example, if you earned $10,000 in freelance income from a client, you'll likely receive a 1099-NEC tax form for nonemployee compensation that details your earnings.

Taxpayers will receive a 1099-K from payment card companies, payment apps and online marketplaces when transactions during 2024 was more than $5,000.

One example of an amount included on a 1099-K in error, he suggested, might include a situation such as when a roommate reimburses you via a third-party payment provider for the rent you paid to a ...

Common examples for when people could be surprised by a 1099-K include selling concert tickets for substantially elevated prices, like those for the Taylor Swift Eras Tour, which ran through 2024.

For example, victims in parts of Virginia that were affected by Hurricane Helene beginning Sept. 25, 2024 have until May 1, 2025 to file their federal tax returns.

The IRS will begin processing 2024 tax returns on Jan. 27. The last day you can file your 2024 taxes without requesting an extension is Tuesday, April 15, 2025. Gig workers who earned more than $5,000 ...

Forms 1099-K will be issued to people who received more than $2,500 in Year 2025, while Forms 1099-K will be issued to people who received more than $600 in Year 2026. That requirement is scheduled to ...