There’s a new IRS form for business taxpayers that pay or receive certain types of nonemployee compensation and it must be furnished to most recipients by Feb. 1, 2021. After sending the forms to recipients, taxpayers must file the forms with the IRS by March 1 (March 31 if filing electronically). The requirement begins with forms for tax
1099-MISC Archives - Crawford Ellenbogen
Jan 25, 2021
The new Form 1099-NEC and the revised 1099-MISC are due to recipients soon
- By Joan Ellenbogen
- Business, Taxes
- 0 Comments
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Aug 5, 2020
Businesses: Get ready for the new Form 1099-NEC
- By Joan Ellenbogen
- Business
- 0 Comments
There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or more to a payee. Why the new form? Prior to 2020, Form 1099-MISC was filed to report payments totaling at least $600
Nov 20, 2019
Small businesses: Get ready for your 1099-MISC reporting requirements
- By Ellenbogen
- Business
- 0 Comments