Income tax Form 1099 is the form used by individuals to report the income they receive besides salaries, tips, and wages. There are a series of forms under Form 1099.
Form 1099-A is meant for reporting either acquisition or Abandonment of secured property.
Form 1099-B is meant for reporting income that is received from brokers as well as from barter exchange transactions.
Form 1099-C is meant for reporting cancellation of debt.
Form 1099-CAP is meant for reporting changes made to both capital structure and corporate control.
Form 1099-DIV is meant for reporting dividends and distributions.
Form 1099-G is meant for reporting government payments.
Form 1099-H is meant for reporting health insurance advance payments.
Form 1099-INT is meant for reporting interest income.
Form 1099-K is meant for reporting income got from merchant card and also from third party network payments.
Form 1099-LTC is meant for reporting long term care benefits.
Form 1099-Misc is meant for reporting miscellaneous income.
Form 1099-OID is meant for reporting original issue discount.
Form 1099-PATR is meant for reporting taxable distributions that were received from cooperates.
Form 1099-Q is meant for reporting payments received from qualified educational programs.
Form 1099-R is meant for reporting distributions from sources like annuities, pensions, IRAs, retirement plans, and insurance contracts.
Form 1099-S is meant for reporting proceeds received from real estate transactions.
Form 1099-SA is meant for reporting proceeds received from HSA, Medicare Advantage MSA, archer MSA.
Three copies of this form must be made. First is for the payer, second is for the payee and third is for the IRS. Payees must get these forms by the end of January. The IRS must get these forms by the end of February.
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Form 990 of the IRS is also titled the Return of Organization Exempt from Income Tax, and it is a compulsory submission for all organisations falling into the described bracket (those that are federally tax-exempt). The Form 990 provides the government with information on the organisations goals, activities, budget, and the like. Before you go and fill out a Form 990 for your organisation, however, you may need to take note that certain organisations are not required to fill out the form. According to the IRS, at least 15 exceptions exist, and they have been provided below.

1. Churches and interchurch organisations
2. Any integrated church auxiliary
3. Organisations that happen to be affiliated with churches and that are also dedicated solely to the management of funds or to handling programmes for retirement
4. Any educational institution dedicated to learning (or school) that operates below the collegiate level and which is affiliated again with a religious order or church
5. Mission groups affiliated with the church for which majority of the programmes and activities are for persons in countries outside of the US
6. Exclusively religious activities of spiritual orders
7. State institutions whose incomes are excluded from gross income following certain stipulations (these may be found in section 115)
8. All corporations that have been organised through an Act of Congress and which are instrumentalities of the US, and which also happen to be exempt from federal income tax as described by the lines in section 501 (c) (1)
9. Certain trusts, stock bonuses, and pensions that are qualified under section 401
10. Some religious organisations as described by section 501(d)
11. Some government units and their affiliates, whose prerequisite traits are described in Revenue Procedure 95-48, 1995-2 C. B. 418
12. Particular private foundations as described in section 501
13. State or local political committees
14. Exempt non-private organisations that regularly post annual gross receipts of $50,000 or less (because these qualify for Form 990-N instead)
15. Foreign organisations located in US territories that regularly post gross receipts of $50,000 or less per year (again due to the qualification for Form 990-N)
Besides these, it is also possible to request an exemption from the obligation to file Form 990. To do this, you should provide the IRS with the information requested by Forms 1023 or 1024. You must request a determination and wait for the IRS to make a ruling on your case.

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