Tax Law Blog
Posts in Tax Forms.
Posted by: Nicholas J. Stock II
Certain payments constituting income require the payor to prepare, furnish, and file certain information statements and returns, both to the payee and to IRS, even when the payor is not the taxpayer whose income is being reported. These returns typically aid the recipient payee in calculating and reporting income in the relevant year and help IRS to identify unreported or underreported income by creating two potential sources of information, which should generally be consistent.
Most of the time, determining the appropriate 1099 or similar form is straightforward. Reporting ...
