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 Instructions Form 1099 C 2017

2017-2025 Form

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Instructions and help about Instructions Form 1099 C

in this video we'll be going over IRS form 1099-k payment card and thirdparty network transactions this is a relatively new tax form that came out as a result of the American Rescue plan Act and the intention uh of this tax form is to recognize that a lot of payments are now being facilitated through online apps and digital banking Solutions things like PayPal or venmo items where they're not necessarily reportable because the payment processor isn't formally recognized as a financial institution the way your bank may be when they issue a form 1099 int or if you're 401K administrator issues a form 1099-r to report withdrawing money from your 401k so this tax form is fairly uh straightforward to understand uh but it's a little bit more difficult to understand how you would take this information and then report it into your tax return now we're a couple years removed from the passage of this law and at the time of this recording January 31s

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