ETAX1099BLOG

How to Differ Form 1099 and W2 Form? – Independent Contractors Vs Employees

Many taxpayers confuse themselves with 1099 form and W2 form as both the forms serve a different purpose for workers. Federal Income Tax forms 1099 and W2 are used to report an individual’s income which is earned from various sources throughout the financial year. But each form is issued under different scenarios and it requires different approaches when you file federal income taxes. If you are an independent contractor, you must file 1099-MISC Form; if you are...

IRS Warns Taxpayers to know about Summertime Scams in 2017

During the past tax filing season, most of the taxpayers received Tax tips to their email inbox directly. Those tax-filing tips helped the tax filers to get the tax related information and helped to file their tax returns appropriately. As the taxes are year-round for most of the taxpayers out there and also many taxable scenarios rise during the summertime. Hence, the Internal Revenue Service provides a summertime tips program starting from July 3rd, 2017. The IRS wants...