Greatland, a provider of W-2 and 1099 products for businesses, receives thousands of calls each year from questioning customers who often mistakenly believe in one of the many tax myths that plague the industry. But what exactly is a tax myth?
- Tax myth \’taks ’miTH\ noun: A FALSE idea or story believed by many regarding the annual fee required by the government to support specific facilities or services.
- Myth: State 1099 reporting is not required if there is no state tax withheld.
- Reality: Check your state’s 1099 filing requirements. Many states require 1099s to be filed even if there is no state tax withheld...
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