Tag: 1099

1099-NEC Forms Due Jan 31

Businesses and self-employed individuals that pay individuals and businesses $600 or more for services are required to issue 1099-NEC forms. Formerly, these payments were reported for form 1099-MISC; however, the IRS created a new form solely for Non-Employee Compensation (form 1099-NEC). Generally two copies of 1099 forms are issued. One copy is filed with the […]