Name: I got an IRS Form 1099 – Does this mean I must file Form 1040 and pay Individual Income Tax?
Uploaded: 2022-09-20T18:01:56+00:00
Duration: 51 min 34 s
Description: "Many businesses across America send 1099 forms to the IRS every year for various types of payments, with copies of the 1099 forms going to the recipients of the payments. You may have received one or

1 year ago

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Federal Income Tax Income Tax Taxes IRS Internal Revenue Service Freedom Law School FLS Tax Law US Law Law Court

"Many businesses across America send 1099 forms to the IRS every year for various types of payments, with copies of the 1099 forms going to the recipients of the payments. You may have received one or several yourself and are wondering whether you will be breaking the law and risking fines, penalties and even imprisonment if you do not confess on a Form 1040 by April 15th to having received those payments.

The most common IRS 1099 form is 1099-NEC for Nonemployee Compensation (formerly reported on IRS 1099-MISC forms). However, other common forms are 1099-INT, 1099-DIV, and 1099-K.

In this presentation, Peymon Mottahedeh, founder and president of Freedom Law School, explains the laws about 1099 forms, what to do if you received copies of any 1099 forms, and how to stop businesses from erroneously reporting your payments to the IRS on 1099 forms in the future."

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