tax master

tax master
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Passionate writer, who enjoys writting on topics such as finance (business, personal), taxes and small business
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Recent pages by tax master

Every year business owners struggle to get their tax returns filed on time, which can lead to inaccurate filing or incorrect filing, hence increasing the burden of penalties. But businesses you can relax now. You have a savior. Efile form 7004 and get automatic 5 or 6 month extension ...
Every year businesses have to file 1099 misc forms for payees whom they hired on a contract basis. However, there was certain type of income that was going unreported to the IRS and that was income earned through electronic payment. In order to reduce the tax gap, IRS introduced a new...
Stress, tension, anxiety, sleepless nights, they are all synonymous to tax season. It's no surprise when people have to pay huge penalties for late filing because they miss out on the date or don't have enough documents to file their tax return on time. But now, there is no need to pa...
A 1099 misc form is an official informational return form that has to be filed with the IRS by business owners if they have hired services of independent contractors and paid them $600 and above as part of their services. Normally, there are 2 methods to file form 1099 misc - Paper fi...
In yr 2010, a new legislation had passed according to which there would have been huge changes to 1099 reporting requirements for 2011 form 1099. However, those changes have been repealed. Read further to find out the whole story.
New cost basis compliance legislation for form 1099-B which was enacted in year 2008, required brokers, agents and other intermediaries to report timely cost basis information to their investors as well as IRS. The change was to raise revenue to support The Emergency Economic Stabiliz...
For year 2011-2012, it is compulsory that even farmers report 1099 forms if any payment of $600 and above is made. Find out the various services that farmers have to file 1099 form for and exceptions to 1099 form filing for them
In less than 2 weeks, businesses would have to buckle up and begin sending 1099 misc forms to their recipients. Recipients are individuals/contractors who are not part of the company but have rendered their services and in return the company compensated them by paying $600 and above. ...
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