Q4 often brings a wave of seasonal hiring. Worker classification runs under more than one federal standard at once — and the labor-law test is currently mid-transition. Here's what to document before the first paycheck goes out.

Form 1099-DA first reports 2025 digital-asset gross proceeds during the 2026 filing season. Basis reporting begins for certain covered digital assets acquired on or after January 1, 2026.

Cryptocurrency compensation is measured in U.S. dollars when paid. Employee wages remain subject to payroll reporting and withholding, contractor reporting uses the applicable 2026 threshold, and the payer may recognize gain or loss on transferred crypto.

There has been a lot of confusion around Form 1099-K over the last few years. For a long time, many small sellers and freelancers only received Form 1099-K if they had more than $20,000 in payments and more than 200 transactions through a third-party payment platform. Then the threshold became a moving target, which created a lot of panic and bad information online. But the more important point never changed: The 1099-K does not create the tax liability. The income does. If y

An IRS Letter 2531 is a correspondence examination notice related to income discrepancies. It means the IRS compared the income you reported on your return with the information returns (1099s) filed by third parties, found a difference, and is asking you to explain it. It’s not a full audit — it’s a targeted inquiry about specific income items. What Triggers a Letter 2531 The IRS receives copies of every 1099-NEC, 1099-MISC, 1099-K, and W-2 filed by payers and platforms. Thei

Getting your 1099 forms done is a big relief for many business owners, but the work doesn’t always stop there. Many miss critical steps that can lead to penalties or compliance headaches later. If you think your 1099s are all set, it’s worth a quick review to avoid common mistakes and understand what true 1099 compliance requires. This post covers what you need to know to stay on track, including TIN matching, frequent errors, when you can still fix issues, and the difference

Every year, businesses and tax professionals face a critical deadline that can cause confusion and costly mistakes: the February 28 deadline for paper filing 1099 forms. This date is often overlooked or misunderstood, especially as the IRS increasingly pushes for electronic filing. Missing this deadline can lead to penalties and delays. It's essential to understand the rules and the shift toward digital submissions. This post breaks down the key facts about the 1099 paper-fil