Month: July 2025

Form 1099-SA is a critical IRS information return used to report distributions from Health Savings Accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), and Medicare Advantage MSAs (MA MSAs). If you withdrew money from any of these tax-advantaged medical accounts,...

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Form 1099-R is a crucial IRS information return used to report distributions from various retirement and pension plans. If you received money from a pension, annuity, retirement account such as an IRA or 401(k), or even from insurance contracts, you...

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As the cost of higher education continues to rise, many families turn to tax-advantaged education savings plans such as 529 Plans and Coverdell Education Savings Accounts (ESAs). When funds are withdrawn from these accounts to pay for qualified education expenses,...

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Form 1099-NEC is an essential IRS information return used to report nonemployee compensation paid to independent contractors, freelancers, gig workers, and other self-employed individuals. As the gig economy continues to expand and more businesses rely on external talent and services,...

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Form 1099-MISC is one of the many types of IRS information returns used to report income that doesn’t fall under traditional employment, such as salaries or wages. If you’ve received certain types of income—including rental income, prize winnings, or legal...

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As the gig economy and digital payments continue to grow, more individuals and small businesses are receiving income through platforms like PayPal, Venmo, Stripe, Amazon, and others. The IRS uses Form 1099-K to track these electronic payments and ensure that...

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Form 1099-INT is a key document issued by banks, financial institutions, and other payers to report interest income earned by an individual or entity during a tax year. If you earn more than $10 in interest from a bank account,...

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Form 1099-G is a tax form issued by federal, state, or local government agencies to report certain types of payments made to individuals. These payments may include unemployment compensation, state tax refunds, agricultural payments, or other government-issued benefits. While the...

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Form 1099-DIV is an essential tax document issued by financial institutions to report dividends and other distributions to investors and the Internal Revenue Service (IRS). If you hold investments such as stocks, mutual funds, ETFs, or real estate investment trusts...

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Form 1099-B is a crucial document issued by brokerage firms and barter exchanges to report proceeds from transactions to both the taxpayer and the Internal Revenue Service (IRS). If you sold stocks, options, commodities, or other securities during the tax...

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