IRS Form 1099 Misc Changes For 2021

What are the 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. Get Started for Free   2021 Form 1099-Misc Changes Form 1099-Misc has been changed and box numbers have been rearranged due to the creation of 1099-NEC. Particularly, Form 1099-Misc Box 7 changed due …

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