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 ...

Employers who pay independent contractors for work that is not paid through their payrolls do not take out deductions. The contractors file their own taxes and make the payments. As a result, ...

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.

Disclaimer: Always consult a tax professional to ensure you understand your business tax obligations. This article compiles information directly from the IRS and is intended as a resource and not tax ...

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 ...

If you regularly work with independent contractors or vendors, you’ll probably need to send them Form 1099 at the beginning of the year. There are over 20 types of 1099 forms, but fortunately, most ...

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.

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 ...

Starting in 2020, companies that pay at least $600 for services performed by someone who is not their employee are required to use the new Form 1099-NEC to report the nonemployee compensation. The ...