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The Internal Revenue Code (IRC) requires entities making certain types of payments, including business payments to contractors, to file information returns with the IRS. Information returns are intended to improve voluntary compliance with tax law by providing information about potentially taxable transactions to the IRS and taxpayers.
Accounting and finance professionals who want to understand the reporting of various types of income on the Form 1099-K
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Ph.D., JD, CPA
Professional Education Network
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$89.00 - Member
$109.00 - Nonmember
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