What Is Form 1099-NEC?
Small businesses often hire freelancers, independent contractors, and others to provide services. Payments to these non-employees must be reported for federal tax purposes, on Internal Revenue Service (IRS) Form 1099-NEC.
This article describes Form 1099-NEC, how to complete it, and when to send the form to the IRS and recipients.
Original Article Source Credits: The Balance Small Business , https://www.thebalancesmb.com/
Article Written By: Jean Murray
Original Article Posted on: January 12, 2022
Link to Original Article: https://www.thebalancesmb.com/what-is-form-1099-nec-for-nonemployee-payments-4781974