Dubai, United Arab Emirates, Feb. 16, 2023 (GLOBE NEWSWIRE) -- ThePayStubs is an online check stub generator created by a professional accounting firm that allows users to easily and instantly produce professional paycheck stubs.
The company’s 1099 NEC form generator is used to create an IRS form that reports payments made by a business to non-employee taxpayers if they have been paid a cumulative amount of over $600 during the tax year.
Additionally, the 1099-NEC form can be used by independent contractors, sole proprietors, or freelancers if they have been paid more than $600 by any business in the tax year and are not classed as direct employees of the business.
ThePayStubs ensures that all calculations inputted on the form are validated by its professional accountants, enabling users to accurately file for their taxes while having a reliable database to keep track of their finances and provide proof of income at all times.
Keep Track of Your Finances
A pay stub is a piece of paper that helps workers stay on top of their finances by keeping note of salary information, taxes paid, and overtime pay, along with serving as proof of income.
ThePayStubs free check stub maker can generate a variety of professional and realistic paystub samples used by thousands of US-based businesses to provide proof of income and payroll services to their employees and contractors.
Some of the company’s paystub samples include:
- The Basic Stub – This template contains all the necessary information about the pay period, hours worked, and net earnings, as well as any deductions, meaning that it is suitable for your every working need.
- Spreadsheet Stub – ThePayStubs simple spreadsheet program allows you to create your proof of income paycheck stub template.
- The Document Stub – By inserting a simple table onto a word processing software, you can create your paystub outlining the hours worked and amounts paid.
Forgetting To File A Form
If you are not an independent contractor or freelancer using the 1099-NEC form and are instead employed by an employer but also working another job, then you will need to file a W-2 form (Wage and Tax Statement) for each job that you currently hold.
Employers withhold income taxes because the federal government and most state governments collect these taxes throughout the year. The W-2 form indicates how much of your income was withheld by your employer for both state and federal taxes while also showing an exact report of how much money you made.
At the beginning of every year, you should receive a W-2 form from your employer, who will also send this form to the IRS and state government. When you have a second job (or multiple jobs), you will need to attach all your W-2 forms from each of your employers as well as the information from all of them to properly fill in your tax forms.
If you forget to file for one W2 form (in this case, for your second job), then as your employers will have sent a W-2 form to the IRS informing of your earning and employment, the IRS will know that you haven’t reported the income.
However, if you only forgot to attach a copy of your W-2 form but you did report the income, you won’t face any penalties, but if you forgot to include the income and didn’t attach the form, then the next steps will depend on whether the IRS owes you money or not.
- If The IRS Owes You Money – If your original return indicates that the IRS owes you money, they might give you a refund without an amendment.
- If You Owe The IRS Money – When you owe the IRS more than what you reported on your original tax return, you will have to pay a specific penalty.
ThePayStubs helps getting a pay stub and creating a W-2 form simple through its quick form generator, thereby reducing your risk of forgetting to file and eliminating the possibility of incurring penalties.
More information
To find out more about ThePayStubs and its 1099-NEC form, please visit the website at https://www.thepaystubs.com/.
