IRS Form 1099 Misc Changes For 2021
What is IRS Form 1099-Misc Changes:? The IRS has made changes to the IRS Form 1099-MISC by reviving the new 1099-NEC form. The 1099-NEC 2020 form will use for reporting nonemployee compensation (NEC) payments beginning with the 2020 tax year. Previously, non-employee compensation reports in Box 7 of the Federal Tax 1099-MISC form. Now, these payments will report in Box 1 of the IRS 1099-NEC form. Table of Contents 2021 Form 1099-Misc Changes Boxes of IRS 1099-Misc Form Why IRS Changed Federal Tax 1099-Misc Form? 1099-Misc 2021 Filing Deadlines 2021 Form 1099-Misc Changes Form 1099-Misc has been changed and box …