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Bsi Financial 1099 Form

Bsi Financial 1099 Form

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What is a W-9 tax form? What is a W-9 tax form?

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Instructions and help about Bsi Financial 1099 Form

in this video we'll be going over IRS form 1099- SB sellers investment in a life insurance contract this is a relatively rare tax form uh that came about as a result of the tax cuts and jobs act a few years back and in uh 2019 the IRS issued final Treasury regulations to address the fact that federal law now requires uh insurance companies to report the transactions when an insurance contract is acquired and transferred uh for either consideration such as a sold contract or to a foreign person and that was updated in uh the Internal Revenue code 6050 y I believe so this is relatively rare if you do receive this as the sell of an insurance contract uh generally you kind of have some information on why you sold that contract uh but basically this contract is reported by the in the issuer uh that uh issued your policy and it simply uh contains your taxpayer information on the Le hand side so it's got the insurance information for ACM Insurance Solutions in this case with t

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