Whether you're a business owner who relies on independent contractors or you make your living as a freelancer, understanding the difference between Form 1099-MISC and 1099-NEC is critical to ensuring ...

If your business pays nonemployee compensation and other reportable payments, you must be aware of two forms: Form 1099-MISC and Form 1099-NEC. Many employers are likely familiar with Form 1099-MISC.

What is a Form 1099-MISC? A 1099-MISC is a type of tax form. It is used to report miscellaneous income for individuals and companies who have been paid $600 or more in non-employee service payments ...

Form 1099-MISC serves a record of income made outside of standard employment. A business generates the form and must send it to the recipient and the Internal Revenue Service by a specific date every ...