WASHINGTON − The Internal Revenue Service today reminded businesses and other payors that the revised Form 1099-MISC, Miscellaneous Income, and the new Form 1099-NEC, Nonemployee Compensation, must be furnished to most recipients by Feb. 1, 2021.

Redesigned Form 1099-MISC

The IRS revised Form 1099-MISC for the 2020 tax year to accommodate the creation of a new Form 1099-NEC. The ...

WASHINGTON − Taxpayers who paid too little tax during 2020 can still avoid a tax-time bill and possible penalties by making a quarterly estimated tax payment now, directly to the Internal Revenue Service. The deadline for making a payment for the fourth quarter of 2020 is Friday, Jan. 15, 2021.

Income taxes are pay-as-you-go. This means that by law, taxpayers are required to pay most of ...

WASHINGTON — National Taxpayer Advocate Erin M. Collins released her 2020 Annual Report to Congress, focusing on the unprecedented challenges taxpayers faced in filing their tax returns and receiving refunds and stimulus payments during a year consumed by the COVID-19 pandemic this week. The report also finds that a roughly 20% inflation-adjusted reduction in the IRS’s budget since ...

TAPinto will host a panel discussion featuring distinguished COVID-19 experts on Thursday, January 14, 2021, at 6:00 p.m. This virtual gathering is free for attendees, but registration is required. 

The panel, presented by Atlantic Health System and moderated by Communications Consultant Bruno Tedeschi, will feature Dr. Michelle Cholankeril, ...

WASHINGTON − The Internal Revenue Service released its 2020 annual report describing the agency’s work delivering taxpayer service and compliance efforts during COVID-19 while spotlighting actions taken by IRS employees to help people during the challenging year.

“Internal Revenue Service Progress Update / Fiscal Year 2020 – Putting Taxpayers First” outlines how ...