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.
1099 Forms Due to Recipients Soon
Tag: 1099-MISC
Hiring Independent Contractors? Make Sure They’re Properly Classified
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
Small businesses: Get ready for your 1099-MISC reporting requirements
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.