Blog - TaxBandits

Posted inin Form 1099 Series

What is Form 1099-LTC? Reporting Requirements for Long-Term Care Benefits

If you’re an insurance company, governmental unit, or viatical settlement provider paying long-term care benefits, Form 1099-LTC is your reporting responsibility, and getting it right matters. Form 1099-LTC is an...

Posted byCharles Hardy
March 20, 2026
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Posted inin Tax Tips

Form 1099-QA Reporting for ABLE Account Distributions

Managing finances as a person with a disability or as a caregiver can be challenging. ABLE accounts (Achieving a Better Life Experience) help ease that burden by offering a tax-advantaged...

Posted byCharles Hardy
March 19, 2026
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Posted inin Extensions

From Deadline Pressure to Peace of Mind: Filing Tax Extensions with TaxBandits

Tax deadlines can feel stressful—especially if you’re still collecting documents or reviewing your financial details. As the deadline gets closer, many people rush to file just to avoid penalties. But...

Posted byCharles Hardy
March 16, 2026
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Posted inin 1042 Forms

Understanding FDAP Income: The Foundation of Foreign Withholding Reporting

Money moves across borders every day. A U.S. company pays royalties to a designer in France, dividends to an investor in Japan, or licensing fees to a contractor in Canada. ...

Posted byCharles Hardy
March 12, 2026
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Posted inin Tax Tips

When Gambling Winnings Require Form W-2G Reporting

Winning money from gambling can feel exciting—whether it’s hitting a jackpot at a casino, winning a poker tournament, or getting lucky with a sports bet. While the thrill of winning...

Posted byCharles Hardy
March 12, 2026
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Posted inin 1042 Forms

Common 1042 and 1042-S Filing Mistakes That Lead to IRS Penalties

If your business or organization makes payments to foreign individuals or entities—whether it’s wages, royalties, dividends, or other income you’re required to file Form 1042 and Form 1042-S with the...

Posted byCharles Hardy
March 10, 2026
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Posted inin Tax Tips

ACA Compliance for Healthcare Employers: Special Scenarios Including COBRA, ICHRA, and Rehires

Healthcare organizations operate in one of the most complex employment environments in the country. Between shift-based staffing, part-time clinicians, seasonal employees, and contract workers, workforce structures often change throughout the...

Posted byCharles Hardy
March 9, 2026
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Posted inin 1042 Forms

Handling Multiple Income Types on Form 1042-S: Codes, Rates, and Reporting Pitfalls

If you’re responsible for reporting U.S. source income paid to foreign individuals or entities, Form 1042-S is something you can’t afford to get wrong, especially when a single recipient receives...

Posted byCharles Hardy
March 5, 2026
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Posted inin 1042 Forms

What Fintech Platforms Need to Know About Foreign Income Reporting Using 1042 Forms

If your fintech platform pays foreign users, you may already be operating inside the 1042 reporting framework without realizing it. You process cross-border transactions. You distribute marketplace earnings. You credit...

Posted byCharles Hardy
March 3, 2026
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