1099 form changes for 2021

2021 is kicking off with some changes to the “Non-Employee Compensation” (NEC) 1099 forms. For the calendar year 2020, the requirements for reporting all NEC will include a new form, the 1099-NEC. The 1099-NEC form was created to separate the 1099-MISC, Box 7 forms. Businesses will need to be prepared to use the new form …

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