The IRS has raised the Form 1099-NEC reporting threshold to $2,000 for 2026, impacting businesses and self-employed individuals who pay or receive nonemployee compensation. Understanding the filing ...

The final regulations list more than 70 separate occupations of tipped workers from bartenders to clowns to golf caddies to locksmiths to massage therapists. Tip income involving "service charges" ...

If your business pays nonemployee compensation and other reportable payments, you must be aware of two forms: Form 1099-MISC and Form 1099-NEC. Many employers are likely familiar with Form 1099-MISC.

You’ve probably been seeing a steady flow of items marked with that label pop up in your mailbox, and most likely your email inbox, too. They’re a harbinger of the tax season to come, and they’re ...

All of FreeTaxUSA's self-filing options are free for federal tax returns, but state returns cost $15.99. FreeTaxUSA's deluxe ...

Among the many changes included in the One Big Beautiful Bill Act (OBBBA) is one relevant to brands and agencies running sweepstakes, contests, and other consumer promotions. For prizes (such as cash, ...

Closeup of Form 1099-NEC and 1099-MISC. The IRS has reintroduced Form 1099-NEC as the new way to report self-employment income instead of Form 1099-MISC as traditionally had been used. If you received ...

I may not be the first to tell you, but don’t forget about an additional benefit of the 870-page One Big Beautiful Bill Act passed in July. As prize promotion sponsors and administrators know, an IRS ...

Small-business owners commonly make or receive payments that must be reported to the Internal Revenue Service. Many of these payments are reported using Form 1099-MISC. To fill out this form, though, ...

The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...

Rajeev Dhir is a writer with 10+ years of experience as a journalist with a background in broadcast, print, and digital newsrooms. Lea Uradu, J.D., is a Maryland state registered tax preparer, ...