The American Rescue Plan Act (ARPA) that was enacted in March 2021 brought about substantial changes to Form 1099-K reporting standards. Originally meant to begin for the 2022 tax year, the IRS has extended the new requirement until the 2023 tax year citing confusion and lack of guidance available ...
1099
The classification of workers in the United States as either 1099 (independent contractors) or W-2 (employees) has significant implications for both parties involved. Understanding these differences is vital for contractors and employers to ensure tax and labor law compliance. This article will ...