Tag Archives: Form 1099-NEC

IRS Plans to Resuscitate Long-Dead Form 1099-NEC

By Marianna G. Dyson and S. Michael Chittenden on August 15, 2019 Posted in Information Reporting, IRS

In the category of “everything old is new again,” the IRS announced in late July that it intends to require that nonemployee compensation (“NEC”) paid during the 2020 calendar year be reported on new Form 1099-NEC, instead of being reported in Box 7 of Form 1099-MISC. A draft of Form 1099-NEC was posted on the … Continue Reading