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Procrastinating on your taxes? What to do now.
With tax season among us, both businesses and employees are finding themselves sending and receiving their W-2 and 1099 tax forms. After an Iowa government agency sent out more than 15,000 forms with wrong ID numbers last week and many penalties for tax mistakes have increased, tax season is not the time to procrastinate, and one…
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Tax form errors can force some businesses to resend forms
As mentioned last week, there are a number of different tax form errors, both accidental and otherwise, that can add up for a filer, encouraging anyone filing a form to make sure all information is correct. But the Iowa Department of Administrative Services also found that mistakes can be costly when sending forms as well.…
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Key Facts About IRS Form 1099
With tax season upon us and the unemployment rate decreasing, both employers and employees are under stress to file their W-2 or 1099 forms for 2012. Tax lawyer Robert Wood explains in a Forbes article what to remember when filing IRS 1099 tax forms. As for timing, the IRS will begin processing this past year’s…