Form 1099-NEC has Returned for all Non-employee Compensation

Beginning with tax year 2020, the Form 1099-NEC will be required to report all non-employee compensation for any business, regardless of size, that pays at least $600 for services performed in the course of their trade or business.

The 1099-MISC will remain (with many changes) for miscellaneous sales, compensation, and proceeds not related to non-employee compensation.

The form will be due to be paper or electronically filed on or before January 31st .

*Please note that the IRS will not forward 1099-NEC to states, meaning that filers need to find a state option as well.

1099-NEC   

1099-MISC

INSTRUCTIONS FOR FORMS 1099-NEC & 1099-MISC