Form 1099-K – Payment Card and Third Party Network Transactions (also noted under gig workers)
Form 1099-K is a tax document used to report payments you receive through payment cards or third-party payment networks, like PayPal or Venmo. It's crucial for gig workers and online sellers to understand this form.
Form 1042-S – Foreign Person’s U.S. Source Income Subject to Withholding
Form 1042-S is an IRS tax form used to report income paid to foreign individuals or entities that is subject to U.S. withholding taxes. It's important for both the payer and the recipient to understand.
Form 1040-NR-EZ – U.S. Income Tax Return for Certain Nonresident Aliens
Form 1040-NR-EZ is a simplified U.S. income tax return specifically for certain nonresident aliens with straightforward financial situations. It's designed to make filing taxes easier for those who qualify.
Form 1040-NR – U.S. Nonresident Alien Income Tax Return
Form 1040-NR is the U.S. income tax return specifically for non-U.S. citizens who have income from U.S. sources. It's important for nonresidents to file correctly to avoid penalties and ensure they meet their tax obligations.
CP515B Notice: First Notice of Delinquent Business Return
A CP515B notice is the IRS's first official alert that your business tax return is overdue. It's crucial to understand why you got it and respond promptly to avoid penalties.
CP259E Notice: Return Not Filed – Exempt Organization
A CP259E notice from the IRS means they haven't received a required tax return from your exempt organization. It's important to address this notice to avoid penalties.
CP518A Notice: Final Notice of Unfiled Individual Return
A CP518A Notice is the IRS's last attempt to get you to file your individual tax return before they take further action. Ignoring it can lead to serious consequences.
CP523I Notice: Installment Agreement Default – Intent to Terminate and Levy Income
The CP523I Notice is a serious IRS notice indicating that you've defaulted on your installment agreement and the IRS may levy your income. It means you need to take action quickly to avoid further penalties.
CP134B Notice: Balance Adjustment for Partnership Return
A CP134B notice from the IRS is a notification that they’ve adjusted the balance due on a partnership tax return. Understanding this notice is crucial for partners to ensure accurate tax reporting and compliance.
CP297C Notice: Intent to Levy on Government Payments
A CP297C notice from the IRS is a serious warning that the IRS plans to take money from your government payments to pay your back taxes. It's crucial to understand this notice and respond quickly.