This form is used for tax filing purposes, and will be recorded by the United States Internal Revenue Service. A Form 1099-Div is also known as a Dividends and Distributions form. This form will be given to taxpayers by their bank or other financial institution. It will list the amount of taxable dividends and other distributions that person got during the tax year. This will ensure that the filer pays the appropriate amount of taxes.
The form will include information about the person who is paying taxes. This includes their tax identification number. The financial information regarding dividends and other distributions will also be listed. The total amount for the tax year will be included, as well any taxes already withheld. This provided information can be copied to the taxpayer’s tax filing forms in order to ensure they get an accurate estimate of taxes due or taxes refunded.
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