If you use independent contractors for your business, you must complete an IRS 1099 form for each one that states the amount of money you paid for services rendered during the tax year. QuickBooks can ...

Form 1099-C reports canceled debt to the IRS when a creditor has forgiven or erased a balance owed so a taxpayer no longer has to pay it. What Is Form 1099-C: Cancellation of Debt? Lenders must submit ...

You will receive a 1099-C Cancellation of Debt form if a lender forgives more than $600 of taxable debt. You must include the amount of canceled debt on your federal tax return as a part of your ...

Here's what you should know about the form 1099-C, Cancellation of Debt: A form 1099-C, Cancellation of Debt, is issued by a creditor when a debt is discharged for less than the full amount you owe ...

Form 1099-C often comes as a concerning surprise at tax time. Here's what you need to know about reporting forgiven debt as income. Most people are in for a surprise when they receive a 1099-C, never ...

If you've never received a 1099 form before, it's time to familiarize yourself with this important tax form. Typically, you'll receive a 1099 because you earned some form of income from a non-employer ...

A 1099 is a tax document reporting nonemployment income to the IRS. There are several types of 1099 forms, depending on the income you receive — but all are designed to report payments you received to ...

Knowing when to issue which kind of 1099 form to someone you paid money to can be a mystery to small business owners, but ...

A classically trained French hornist by education, Nick Wolny is a managing editor at CNET Group, where he oversees the Perspectives franchise and written branded content across CNET Group's ...

A tax adviser faces a challenge when advising a client about the taxability of a canceled debt. In addition to breaking the news that the transaction is possibly a taxable event under Sec. 61(a)(12), ...