science
Are lawsuit settlements reported on 1099?
If you receive a court settlement in a lawsuit, then the IRS requires that the payor send the receiving party an IRS Form 1099-MISC for taxable legal sett...
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health
When do creditors have to file a 1099-C?
Until 2016, IRS rules allowed creditors to file a 1099-C if no payments had been made on a debt for 36 months. This resulted in many 1099-C forms being is...
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education
What can I write to my son for graduation?
My heartfelt blessing to you my son. Graduation is undoubtedly a great achievement, but it does not have to be leftover many more achievements in the futu...
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business
What happens when you cancel a debt with a 1099-C?
But it’s the Form 1099-C, Cancellation of Debt, that plagues people the most. When your lender forgives debt responsibility, you’re then obliged to pay ba...
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business
How to report disposition of SEC 179 s-Corp property?
Throughout six years, S-Corp bought… Throughout six years, S-Corp bought business property (mostly tools), passing sec 179 deductions to shareholders. S-C...
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health
How can I file ITR for free?
2. Online: Enter the relevant data directly online at e-filing portal and submit it. Taxpayer can file ITR 1 and ITR 4 online. Go to the Income Tax e-Fili...
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technology insights
Can I send Social Security an email?
gov”, use caution before opening attachments or clicking on pictures or links in the email. Currently, Social Security sends emails from [email prote...
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technology insights
What does refer to question mean?
“Referring” a question to someone means asking that person the question. For example: Please refer any questions you may have to J. Martin Forrester, Publ...
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global news
Are beauty salons allowed in Tier 3?
Currently, hairdressing salons can now operate in a Covid-secure manner in all levels—Tier 1, Tier 2 and Tier 3—even if their area has been moving from ‘h...
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environment
What to do if you receive a 1099-C after filing taxes?
If you’ve already filed your tax return, and get a form 1099-C in the mail afterwards, it might mean that you didn’t report the correct amount of taxable ...
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