In recent years, many workers have become engaged in the “gig” economy. You may think of gig workers as those who deliver take-out restaurant meals, walk dogs and drive for ride-hailing services. But so-called gig work seems to be expanding. Today, some nurses have become gig workers and writers in Hollywood who recently went on
1099-NEC Archives - Crawford Ellenbogen
Jun 15, 2023
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
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
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