For years, the number $600 has been etched into the minds of every church administrator and nonprofit executive. It was the magic threshold that triggered a flurry of year-end paperwork for every guest speaker, specialized consultant, and local repairman who helped...
For decades, the $600 threshold has been the standard for issuing 1099 forms. If you paid a contractor or vendor $600 or more in a year, a Form 1099-NEC or 1099-MISC was required. That is changing. Under the One Big Beautiful Bill Act (OBBBA), signed into law in 2025,...
Before filing a federal tax return, taxpayers should make sure they have the necessary and correct documents. Here’s what taxpayers should do if they haven't received their Form W-2 or Form 1099 yet. Taxpayer options for missing documents Contact the employer, payer...