Whether you're a business owner who relies on independent contractors or you make your living as a freelancer, understanding the difference between Form 1099-MISC and 1099-NEC is critical to ensuring ...

Whether you're a business owner who relies on independent contractors or you make your living as a freelancer, understanding the difference between Form 1099-MISC and 1099-NEC is critical to ensuring ...

Despite COVID-19, the Internal Revenue Service is continuing forward with moving 1099-MISC Box 7, “Non-Employee Compensation” to a new form, the 1099-NEC. This is effective starting this tax year, ...

Form 1099-NEC is used for reporting compensation paid to nonemployees. Here's what you need to know. Many, or all, of the products featured on this page are from our advertising partners who ...

SAN ANTONIO , Jan. 30, 2025 /PRNewswire/ -- All organizations that hired independent contractors in 2024 must file Forms 1099-NEC, Nonemployee Compensation, by January 31 to avoid costly penalties.

For the 2020 tax year, the Internal Revenue Service (IRS) moved reporting of certain nonemployee compensation, including current and deferred compensation paid to independent contractors and corporate ...

Examples of services include all services performed (including parts and service), honorariums, director’s fees, guest lecturers, commissions, performances, entertainment, accountants, architects, etc ...

My daughter asked for a pair of throwback Nike sneakers this week to match her ringer tees and scrunchies. Not to be outdone, my son wants a DeLorean. It feels like we’re heading back to the 1980s - ...

While January 31st was a key deadline for filing Forms 1099-NEC, W-2, and other 1099 tax forms, many businesses need to prepare for another essential tax deadline-February 18, 2025. The February 18, ...

The Internal Revenue Service has revived Form 1099-NEC to eliminate confusion about complying with new filing deadlines aimed at combatting fraud. The Internal Revenue Service (IRS) released its final ...

For businesses across America, it’s that time again to think about the necessary IRS paperwork. But there have also been some changes, as should be no surprise. One is regarding the 1099-MISC form.