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IRS 1099-MISC 2025 online LA: What You Should Know
If you do not file a Form 1099-NEC, you should be prepared to explain: Why you have only paid or received for services rendered by you or on your behalf a fair market value for your services or a gross receipt for services performed where you received nothing for work done. Report Payments to Independent Contractors and Business Owners — IRS May 5, 2025 — If you pay independent contractors, you may have to file Form 941, Statement of Business, Payroll & Other Current Income or Form 941, Statement of Business, Gross Income for Business Tax, to report payments for services rendered without yourself being paid an hourly rate. If you do not file a Form 941, you should be prepared to explain: Why you have only paid or received for services rendered by you or on your behalf a fair market value for your services or a gross receipt for services performed where you received nothing for work done. Income Tax Return Instructions and Other Instructions for Certain Individuals — IRS May 29, 2025 — The final section of the tax form, the Form 3800, is a new section. You may have to file a new tax return for these individuals: (1) A person who lives in the EU, Switzerland, or elsewhere outside the USA. (2) A foreign person who owns or leases real property located in the USA. (3) A person who is a student enrolled at a college or university, and who intends to leave the USA for more than six months. (4) A foreign person from which no income tax is withheld and who is described in section 6013 (a), or (b). (5) A foreign person who intends to be exempt in the future from making United States income tax payments for the current year and for the years in the future, on the basis of having made such payments in the past when an amount was included on the person's U.S. tax return.
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