Typical 1099 tax form

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1099s Instructions

The typical 1099 tax form involves money received from any business to someone performing any kind of contract work. It’s mandatory to report any wages received totaling any more than six hundred dollars within a single tax year.

There are many variations of this type of tax form, which are commonly known as “information returns.”

Even if you don’t receive the actual form itself from a business you did work for, you’re still required to claim these wages on your tax return. All you actually need is the employer identification number and the amount of money earned, which is considered taxable by the IRS.

There are two ways someone can do this. One is filling out the physical paperwork, and the other is on the web through an online tax-filing service.

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