FlyFin, a fintech provider, unveiled a free tax form recommendation tool for self-employed people, freelancers, and small business owners. FlyFin’s Tax Form Wizard (https://flyfin.tax/tax-forms) shows 1099 taxpayers the IRS tax forms that apply to their needs as self-employed individuals, with recommendations for forms specific to the kind of work they do and their individual situations.
With more than 800 different tax forms that the IRS makes available, the sheer volume and complexity of various tax forms can make tax preparation overwhelming. FlyFin’s Tax Form Wizard empowers self-employed people and freelancers with a tool to help them bypass the need for a tax professional. The bespoke tax form recommendation tool lets people quickly find and download only the forms that apply to their employment circumstances over the tax year.
Just in time for the June 15th tax quarterly deadline, the Tax Form Wizard guides self-employed people and freelancers in understanding exactly which forms they will need for their tax preparation and filing.
Every year, self-employed people across America are unsure about the tax forms and the details of filing their taxes and end up underpaying, which generally leads to tax penalties and interest charges from the IRS.
FlyFin developed its new Tax Form Wizard when the response to its 1099 Tax Calculator made the need known for tools that help self-employed individuals with their taxes. The 1099 Tax Calculator quickly computes quarterly or annual income taxes for freelancers and self-employed individuals, so they know what the amount of their next tax payment needs to be. Taxpayers who receive 1099 Forms are typically self-employed, sub-contractors, independent contractors, gig workers, freelancers, and creator economy workers.
“We developed the Tax Form Wizard as a solution for self-employed people, freelancers, and small business owners, who have more complicated tax filing requirements, to take the hassle out of tax preparation for them,” said Jaideep Singh, CEO of FlyFin. “The IRS provides a mountain of information on tax preparation, but it can be difficult to find what you need, and the explanations can be confusing or overwhelming. Our Wizard cuts through the chaos and lets people know only the tax forms that apply to their needs as self-employed individuals and freelancers.”