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 ...

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 ...

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 ...

Add Yahoo as a preferred source to see more of our stories on Google. If you've never received a 1099 form before, it's time to familiarize yourself with this important tax form. Typically, you'll ...

A 1099 tax form is a statement that details an amount of money that you were paid. Learn about this important tax document ...

If you pay independent contractors $600 or more annually, you must report those payments to the IRS on Form 1099-NEC. The process is fairly simple if you only need to send one or two, but it gets more ...

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), ...

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 ...