As we encounter the end of one year and the beginning of another, many year-end accounting tasks are upon us, including the issuance of W2s and 1099s to those who have performed work for us during 2021. To determine who needs to get which type of tax form, we must be able to properly classify … Read More
New 1099 Form to be used for 2020
Don’t let the new form make you uneasy. It’s filed just the same way that the old 1099-Misc non-employee compensation forms were filed. Your old box 7 vendors are now just getting their own special form, the 1099-NEC. What’s new? Effective for the 2020 tax year, form 1099-NEC has been implemented by the IRS. The … Read More