Information Return Definition

Short Definition:
Forms submitted by a business or self-employed person to the IRS about transactions that have occurred in the past calendar year.

Extended Definition:
An information return is a mandated form for the IRS regarding transactions of a business or self employed individuals. These transactions may be money received as well as money paid to other individuals or businesses. Common information returns are: Form W-2s, 1099s (1099-MISC,1099-INT, 1099-DIV etc.), and 1096. Small business owners who have questions about whether or not they should file an information return can visit the IRS website.

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