What is the difference between 1099 and w2?

Answer 1

You get a W-2 form from an employer who pays payroll taxes. You get a 1099 from someone who paid you, but did not pay taxes on the money you were paid. This means that any income you get on a 1099 must be paid at a higher self-employment tax rate.

Answer 2

A W2 reports income earned, a 1099 reports interest earned on qualifying accounts