1099 Vs 1099-K: What You Should Know

You are an independent contractor. When beginning to work with a particular client, a W-9 should have been received or request for taxpayer identification number and certification. That information is used by each client to issue a 1099- MISC, or Miscellaneous Income form, which states the amount of non-employee compensation you received from the client last year. Unlike a W-2, no taxes have been withheld from the money received from the client.

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