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Do you know a W-9 from a 1099? Here are the forms you'll need when you file taxes in 2025.

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Some forms are pre-populated and designed for you to pass on to the IRS. They may be headed to your mailbox, or sitting in a "tax documents" portal on a website, awaiting download. In theory, there may be nothing you need to do,
The article from MSN Money discusses the various tax forms small business owners and freelancers will need when filing taxes for the year 2025. It explains the differences between key forms like the W-9, which is used to request a taxpayer identification number from independent contractors, and the 1099 series, which includes forms like the 1099-NEC for reporting nonemployee compensation and the 1099-MISC for miscellaneous income. The article also covers the importance of understanding these forms to ensure accurate tax reporting, avoiding penalties, and maximizing deductions. Additionally, it touches on new changes or updates to these forms for the 2025 tax year, emphasizing the need for business owners to stay informed about tax law changes to manage their tax obligations effectively.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/smallbusiness/do-you-know-a-w-9-from-a-1099-here-are-the-forms-you-ll-need-when-you-file-taxes-in-2025/ar-AA1x6Iqq ]