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Form ApprovedREPORT DOCUMENTATION PAGE OMB No. 07040188Public reporting burden for this collection of information is estimated to average 1 hour per response, including the time for reviewing instructions,
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The above 2 report types refer to Form 1099 and Form W-2, which are used to report income and employment information to the IRS.
Employers must file Form W-2 for each employee, while businesses or individuals making payments to non-employees for services must file Form 1099.
To fill out Form W-2, employers must provide employee information such as wages and taxes withheld, while Form 1099 requires information about payments made and the recipient's identification details.
The purpose of these report types is to inform the IRS and other tax authorities about income paid to employees and non-employees, ensuring proper tax reporting and compliance.
Form W-2 must include employee's wages, taxes withheld, and employer information; Form 1099 must include payer and payee details, payment amounts, and the type of payment.
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