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{"id":74410,"date":"2021-01-11T16:39:41","date_gmt":"2021-01-11T21:39:41","guid":{"rendered":"http:\/\/www.ryanandwetmore.com\/?p=74410"},"modified":"2022-06-27T21:52:40","modified_gmt":"2022-06-27T21:52:40","slug":"new-irs-form-1099-nec-video","status":"publish","type":"post","link":"https:\/\/www.randwpc.com\/rwblog\/new-irs-form-1099-nec-video\/","title":{"rendered":"New IRS Form 1099-NEC [Video]"},"content":{"rendered":"\n\n\n\n\n

The IRS is now bringing back Form 1099-NEC<\/a> for the 2020 tax year for the purposes of reporting nonemployee compensation. This form has not been used since 1982. The purpose of the 1099-NEC is to alleviate some of the filing date and reporting confusion that was caused by the PATH<\/a> (Protecting Americans from Tax Hikes) Act of 2015. Form 1099-MISC will still be used in 2020 to report other types of payments. Both forms are required only when making payments in the course of your trade or business. Personal payments are not reportable. Also, payments to corporations are generally not required to be reported.<\/p>\n\n\n\n

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