Sending or Receiving 1099s? What You Should Know
Whether you’re sending or receiving IRS Form 1099s, you need to understand what’s involved.
It’s January, time for those official tax-related documents to start showing up in your physical mailbox or your computer’s inbox. You may have received some by now – and you may have sent some already. January 31st is the official 1099 deadline, so if you haven’t gotten all the forms you were expecting by then, you should definitely contact the issuer. If you’re responsible for sending them, time is running out.
There’s a new 1099 this year: the IRS Form 1099-DA: Digital Asset Proceeds From Broker Transactions. More on that later. And if you’re a gig worker or are otherwise self-employed, you’re familiar by now with the Form 1099-K that debuted a few years ago, the document that comes from third-party payment processors like Square or PayPal.
We’ll start, though, with the IRS forms you’re probably the most familiar with.
It’s January, time for those official tax-related documents to start showing up in your physical mailbox or your computer’s inbox. You may have received some by now – and you may have sent some already. January 31st is the official 1099 deadline, so if you haven’t gotten all the forms you were expecting by then, you should definitely contact the issuer. If you’re responsible for sending them, time is running out.
There’s a new 1099 this year: the IRS Form 1099-DA: Digital Asset Proceeds From Broker Transactions. More on that later. And if you’re a gig worker or are otherwise self-employed, you’re familiar by now with the Form 1099-K that debuted a few years ago, the document that comes from third-party payment processors like Square or PayPal.
We’ll start, though, with the IRS forms you’re probably the most familiar with.
Subscribe to Our Newsletter
Tax Center
Get a FREE Consultation
Tax Tips