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1099 independent contractor 2024 Form: What You Should Know

See  2017 Filing Requirements for Forms Wages & Salary — IRS There have been a number of tax laws passed since 1977 that are relevant to businesses. Business owners should review these tax  A 2024 Tax Guide for Small Businesses — IRS IR-2017-89C, Tax on Non-Employee Compensation — IRS Nov 15, 2024 — Non-Employee compensation includes wages, tips, and other remuneration. Generally, it does not include fringe benefits, like health insurance or retirement benefits.  2017 Form 1099-MISC — IRS Oct 24, 2024 — This form should be filed only when wages are paid to an independent contractor. See: Non-Employee Compensation, FIFO, FIFA Dec 4, 2024 — The 1099-MISC is not required to be filed with this form if no independent contractor income has been reported by the employee or the employer.  However, you may need to file Form W11, Employee Identification Number, if the employee had a Form W-2 for payroll business expense deductions that you did not report on Form W11. You may need an employee identification number for tax reporting purposes. In order to determine whether you may have to file Form W11, call. If you have any questions about this new filing requirement, contact the  Ticker: The following are not tax obligations. These are also not required. Ticker: Catch-up for tax year 2017 To catch up this year for tax year 2017, you should have completed your annual 2024 filing with the IRS in prior December. In order to avoid over filing your 2024 or prior tax return, it is important to review the calendar year 2017. If you are planning to report any income from July 2024 through March 2017, then the 2024 year should be your first year to report from June through December. As in previous years, the tax year 2024 will include the month May 2024 through May 2017. For detailed instructions for preparing and filing the 2024 Tax Return and filing Form 8824/S, you may review IRS Publication 560 or see the IRS website. For further support or additional resources please contact the Tax Professional Network. Ticker: Ticker: New Form 8824 for Individuals The filing of Form 8889 for individuals may be delayed due to a processing problem. We apologize for the inconvenience and are working diligently to rectify to correct the issue.

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