Great news for brands operating consumer promotions, sweepstakes, and contests! Effective for the 2026 tax year, the One Big Beautiful Bill Act (P.L. No. 119-21) raises the threshold for issuance of a ...
Under the new law, reporting thresholds for Form 1099-K (for payment card and third-party network transactions), Form 1099-MISC (for payments not covered by other 1099 forms), and Form 1099-NEC (for ...
Question: My wife says that noncash game show and church raffle winnings are taxable, and I say, “no way.” Who is right? Answer: Never doubt your wife! The source (nonprofit organization) of your ...
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Smart 1099 tips every creator should know
If you’re a content creator, freelancer, or small business owner, tax season can be overwhelming—especially when juggling multiple 1099 forms from different income sources. Understanding which form ...
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