IRS reporting refers to the tax forms and information that individuals and businesses must file with the Internal Revenue Service to report income, expenses, and other financial details. It also includes required disclosures by employers, banks, and other parties who must send the IRS (and often the taxpayer) reports like W-2s and 1099s.
A 1099 form is an IRS information return used to report income you received outside of wages, with multiple versions (like 1099-NEC and 1099-INT) for different income types. It helps the IRS match reported payments to your tax return and reduce underreporting. This article explains the purpose of 1099s, common types, and what to do […]
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A W-2 form (Wage and Tax Statement) reports your annual wages and the taxes withheld by your employer for the prior year. Employers generally must send it to employees by January 31. This article explains what information is on a W-2 and how it’s used for filing taxes. Understanding the W-2 Form The W-2 form,
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