There are two types of 1099 forms: Form 1099-NEC Form 1099-MISC Below, we’ll cover who gets a 1099, breaking it down by form type. Who gets Form 1099-NEC? Non-employee contractors Non-employee contractors are the most well-known recipients of 1099s. (Important: Here’s how to properly classify an independent contractor vs. an employee.) If you made payments
There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation (Form 1099-NEC), and it’s due soon.
As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified for federal tax purposes. If the IRS reclassifies them as employees, it can be an expensive mistake. The question of whether a worker is an
A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors and others.