If you paid someone to help out in your business, whether it was a virtual assistant, a web designer, or your affiliates, chances are you need to complete a Form 1099 for them. 

Generally, if you paid an independent contractor $600 or more throughout the year, you need to file a Form 1099-MISC for that person.

So where can you find a free 1099 Misc form?

You can view Form 1099-MISC online at the IRS website.

However, this is an information copy only.  It’s not scan-able, therefore the IRS won’t accept it (they may even fine you for using it).

However, you can order official IRS forms by calling 1-800-TAX-FORM (1-800-829-3676), or by clicking here.

Another resource that I love for filing 1099 forms is FileTaxes.com. 

While it’s not free, at FileTaxes.com you can complete and file various 1099 and other tax forms for a very small fee.  Filetaxes.com will even mail your 1099s for you (exception: they won’t mail the state copies, but they mail copies to the IRS and to the recipient of the form, this is a very nice feature!).

Finally, you can always go to the office supply store to buy tax forms, but they usually come in packages of 10-50 forms and can cost up to $25.

Q: I started selling items from around my home that I don’t want anymore on eBay.  I am selling BELOW what I paid for these items.  I’m not trying to make a profit, I’m just trying to get rid of items no longer wanted.  Is this considered a business?   Do I have to report my eBay sales to the IRS?

A: Selling personal items at a loss is not a business activity, so you don’t have to worry about keeping track of or reporting this activity on your tax return.

The IRS will not allow you to claim a loss for personal items sold on eBay.  However, the minute you purchase something with the intent of selling on ebay for a profit, you’ve got a business, and then you DO need to start keeping track of and reporting your activity.

Okay… you know the IRS will start sending out rebate checks in May. But when will you get YOUR check?

The
first rebate checks will be mailed out starting on May 2, and will be
based on the final two digits of your Social Security number, as well
as when you file and whether you elected to receive any refund by
direct deposit or snail mail.

The IRS says most people will get
their checks by July 11, but if you want to know exactly when to expect
your rebate, here are the details:

If you file your 2007 tax
return by April 15, and request direct deposit for your refund, then
you can expect your rebate according to the following schedule…

SSNs ending in 00-20, deposited by May 2
SSNs ending in 21-85, deposited by May 9
SSNs ending in 76-99, deposited by May 16

Notice that taxpayers who requested direct deposit on their 2007 tax return will receive their rebate by direct deposit as well.

Continue Reading IRS to Start Sending Rebates on May 2

Identity thieves are already thinking up and using scams involving the
economic stimulus package. There are both email and telephone scams using the IRS name to try to steal your identity, so be cautious.

If someone claiming to be the IRS calls or emails you asking for a Social
Security Number, a bank account or a credit card account number, do not
give it to them. The IRS will not be calling or emailing taxpayers, so
any phone calls or emails you receive are a scam.