What to Expect for the 2017 Tax Season
The 2017 Tax Season began yesterday. Here are some of the key facts that every individual and business tax payer should be aware of:
- Tax season opened on January 23, 2017.This means that all returns will now be accepted by IRS. Any returns prepared prior to this date could not be e-filed as the IRS’ system was not open.
- Taxpayers have a few extra days to file their 2016 returns this year.
The 411 on IRS Form 1099
If you are a business owner or a self-employed individual, there is a tax deadline that is right around the corner that you need to be aware of; and we aren’t referring to the April 15 deadline! The deadline to issue IRS Form 1099-MISC is January 31. 2017. So how do you know whether or not you need to issue 1099s or if you should have received one and what goes into these forms?…