Home › Posts tagged Tax Gap
Blog Archives

Why You Should Not Discard Your Form 1099-K

Posted in Tax News on November 26, 2012

  If you get a Form 1099-K in 2013, don’t ignore it. The new form records payments received in 2012 by credit card companies or through third-party networks such as Amazon, PayPal, and Google. This added income reporting mechanism was…

Read more

Tagged with: , , , , , , , , , , , , , ,

4 Reasons to Get IRS Form W-9

Posted in Tax News on August 28, 2012

  1) Two Simple Questions That Taxpayers Will Need to Answer Carefully This Year Two simple questions were added to the income tax returns last year.  These were: “Did you make any payments in 2011 that would require you to…

Read more

Tagged with: , , , , , , , , , , , , , , , , , , , , , ,

4 Reasons to File Form 1099

Posted in Tax News on June 5, 2012

1) Payments made to independent contractors. Payments to independent contractors over $600 need to be issued a Form 1099-Miscellaneous.  This form needs to be issued to all unincorporated vendors.  An unincorporated business is one that is a sole proprietorship, partnership…

Read more

Tagged with: , , , , , , , , , , , , , , , , , , ,

Connecticut Joins Pact on Employee Misclassification Initiative

Posted in Tax News on May 8, 2012

The misclassification of employees as independent contractors, presents a serious issue for affected employees, employers, and to the economy. Misclassified employees are often denied access to critical benefits and protections such as family and medical leave, overtime, minimum wage and…

Read more

Tagged with: , , , , , , , , , , , , , , , , , , ,

2 Simple Questions That Taxpayers Will Need to Answer Carefully This Year

Posted in Tax News on March 8, 2012

Do you file a Schedule C, Profit or Loss From Business or Schedule E, Supplemental Income or Loss (From Real Estate or Partnerships)? If so, you will notice there are 2 simple questions that have been added to these forms.…

Read more

Tagged with: , , , , , , , , , , , , , , , , ,