Form 1099-A is a federal tax form that lenders file with the IRS to report properties transferred due to foreclosure. The form provides details of the sale, including fair market …
Form 1099-B: Proceeds from Broker and Barter Exchange Transactions
Form 1099-B is an IRS tax form used by brokerages and barter exchanges to report a customer’s gains and losses to them and the IRS. The information is then used …
Form 1099-C: Cancellation of Debt
Form 1099-C is a required federal tax form sent to taxpayers by lenders and creditors whenever they cancel or forgive a debt worth $600 or more. Knowing when to file …
Form 1099-CAP: Changes in Corporate Control and Capital Structure
IRS Form 1099-CAP is used by corporations to report a significant change in control or capital structure to shareholders. It is important for shareholders to recognize any gains from cash, …
Form 1099-DIV: Dividends and Distributions
Form 1099-DIV, Dividends and Distributions is an Internal Revenue Service (IRS) form that banks and other financial institutions provide to investors who receive dividends and distributions from any type of …
Form 1099-G: Certain Government Payments
Form 1099-G, Certain Government Payments is a form required by federal, state, and local governments to report payments made to taxpayers. It is used to report payments like unemployment compensation, …
Form 1099-H: Health Coverage Tax Credit (HCTC) Advance Payments
Form 1099-H: Health Coverage Tax Credit Advance Payments is a U.S. federal income tax form used to report health insurance payments made to recipients of Trade Adjustment (TAA), Alternative TAA …
Form 1099-INT: Interest Income
Form 1099-INT is an IRS tax form commonly issued to taxpayers who receive interest income over $10. It reports important information such as Federal Income Tax Withheld and Tax-Exempt Interest. …
Form 990: Return of Organization Exempt From Income Tax
The Form 990 is a detailed financial document mandated by the U.S. Internal Revenue Service (IRS) for tax-exempt organizations. It’s the public’s window into an organization’s finances, providing transparency of …
Form 1099-K: Payment Card and Third Party Network Transactions
Form 1099-K is an IRS form that taxpayers receive to report certain payment transactions from payment card and/or third-party network transactions above a threshold. If a taxpayer is self-employed or …
Form 1040-NR: Nonresident Alien Income Tax Return
Non-citizen US residents and those earning income in the US must file Form 1040-NR, the US Nonresident Alien Income Tax Return. This article explains who needs to file such a …
Form 1099-LTC: Long Term Care and Accelerated Death Benefits
Form 1099-LTC is an IRS form that helps individuals report long-term care (LTC) benefits and accelerated death benefits they’ve received in the previous year, including from providers such as insurance …
Form 1065: U.S. Return of Partnership Income
All domestic partnerships must file IRS Form 1065: U.S. Return of Partnership Income to declare profits, losses, deductions and credits of the business for tax filing purposes. Partner’s share of …
Form 1099-MISC: Miscellaneous Information
Form 1099-MISC is used to report miscellaneous compensation such as rent, royalties, prizes, awards, healthcare payments, and payments to an attorney to both the Internal Revenue Service (IRS) and the …
Form 1041: U.S. Income Tax Return for Estates and Trusts
Form 1041 is an IRS income tax return filed by the trustee or representative of a deceased individual’s estate or trust to declare any taxable income earned before assets are …
Form 1099-NEC: Nonemployee Compensation
Form 1099-NEC is an IRS form used by businesses to report payments made to independent contractors, freelancers, sole proprietors, and self-employed individuals. In 2020, the form was resurrected to address …
Form 1120S: U.S. Income Tax Return for an S Corporation
Form 1120-S is the annual tax return for businesses that are registered as S corporations. It is used to report income, gains, losses, credits, deductions, and other information to the …
Form 1099-OID: Original Issue Discount
Form 1099-OID: Original Issue Discount is an IRS document you receive when you must include an amount of original issue discount as taxable income. OID applies to certain debt instruments, …
Form 941: Employer’s Quarterly Federal Tax Return
IRS Form 941 is the quarterly federal tax return for employers, who need to report withheld taxes such as federal income tax, and the employer and employee share of Social …
Form 1099-PATR: Taxable Distributions Received From Cooperatives
Form 1099-PATR is an IRS form used to report distributions that taxpayers have received from a cooperative that may need to be included in their taxable income. Taxpayers who received …