What Is a 147c Letter?A 147c letter, also known as an EIN verification letter, is issued by the Internal Revenue Service (IRS) to confirm the Employer Identification Number (EIN) for a business. This letter is sent when a company has misplaced or lost its EIN and needs official documentation of the number. It’s important to…
What Is a 1099 Form? The 1099 form is part of a series of tax documents designed for reporting payments made to non-employees, such as independent contractors, freelancers, or sole proprietors. A copy of this form is submitted to both the Internal Revenue Service (IRS) and the payee. Subsequently, the payee incorporates this reported income…