24/7 Wall St. on MSN

Fidelity’s 1099-R has a one-letter code in box 7 that tells the IRS whether you owe a 10% early withdrawal penalty. Code 1 means you do, code 2 means you don’t, and f…

Quick ReadA single Box 7 code on your 1099-R triggers or waives a 10% early withdrawal penalty, and Code 1 is the default for ...
findarticles

1099-MISC vs. 1099-NEC: Which Tax Form Should Your Business Use?

Businesses that work with independent contractors, landlords, consultants, and other service providers often need to report ...
24/7 Wall St. on MSN

The IRS sent 1.6 million CP2000 proposed changes letters last year, and most were triggered by a 1099 the taxpayer never saw. The letter isn’t an audit, and 30 days is t…

Quick ReadThe IRS sent 1.6 million CP2000 letters last year, closing 987,460 cases and collecting $5.9 billion in additional ...
24/7 Wall St.

She Inherited 400 Comic Books and Sold Them on eBay Over Two Years. Then the 1099-K Arrived, and So Did the Letter From Medicare.

A Form 1099-K from selling inherited comic books triggered something few retirees expect: a Medicare premium notice. How the ...
Wealth Management

RIA Platform Leaders Ask ‘What’s the Advantage in Having Your Own Form ADV?’

Mariner and WealthCare say advisors are getting fed up with SEC reporting requirements related to new technology.
24/7 Wall St.

In 1971, Warren Buffett Paid $150,000 For A Beach House In California. When It Came Time To Sell, He May Have Owed The Government As Much As $2.7 Million. Here’s …

Warren Buffett bought a California beach house for $150,000 and held it for decades, only to face a tax bill that dwarfs what ...

How to Buy a House With a Gig-Economy Income

Freelancers, content creators and others face higher scrutiny in getting a mortgage than those with traditional incomes. Here ...

Tired of K-1 Tax Forms? Buy These 3 High-Yield Pipeline Stocks Instead

K-1 forms arrive late, complicate tax returns, and can create UBTI headaches inside IRAs, but pipeline income does not ...
JD Supra

[Webinar] Breaking the Ice® | Year-End Tax Reporting — Forms, Filings, and Common Corrections

As the calendar year comes to a close, retirement systems face a host of important tax reporting obligations. From Forms 945, 1099-R, and 1042-S ...
BELatina

Guillermo del Toro Said a Film Festival Is Exactly the Right Place to Protest After Students Called Out Guadalajara’s Six-Year Water Crisis

Guillermo Del Toro did not deflect the moment or redirect attention back to the film. He responded to the students in front ...
FinTech Global

Why Form 8300 is a hidden AML risk for businesses

Anti-money laundering (AML) compliance is usually seen as a concern for banks, but a little-known federal obligation is ...

Remember the headphones with a built-in valve amp? They're back in a new and improved version

The Écoute TH2 are valve amp-toting headphones which build on their predecessors.