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TEXAS DEPARTMENT OF INFORMATION RESOURCESIncident Response Team Red book June 20201Contents Introduction ..........................................................................................................................................

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What is 2 common acronyms?

W-2 (Wage and Tax Statement) and 1099 (Miscellaneous Income)

Who is required to file 2 common acronyms?

Employers file W-2 forms for their employees, while self-employed individuals or businesses file 1099 forms for freelancers or contractors.

How to fill out 2 common acronyms?

W-2 forms require employer information, employee details, and wage and tax data; 1099 forms require payer information, payee details, and amount paid for services.

What is the purpose of 2 common acronyms?

W-2 forms report employee wages and taxes withheld; 1099 forms report income received by non-employees.

What information must be reported on 2 common acronyms?

W-2: employee's total earnings, tax withholdings, and Social Security information; 1099: amount paid to contractor, payer and payee identification.