Form 1099-K Explained: The Micro-Payment Middle-Man
This one goes out to the freelancers and side-hustlers getting paid for small jobs online! What's a Form 1099-K all about?
ReadAs long as your return is time stamped on the due date, it will be considered on time.
If, on the other hand, you owe a tax bill and file even one day after the deadline, you’ll have the failure-to-file and failure-to pay penalties added to your bill. That’s 5% interest on your taxes added each month your return isn’t filed.
If you file after the deadline but don’t owe any taxes, you won’t have any penalties or fees applied, but you also won’t get any refund you may qualify for until you file.
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