If you file Form 1099-NEC on paper, you must submit it with Form 1096, ... Give your contractors a list of software and hardware needed to view, print, and save their 1099.

REDMOND, Wash., Jan. 13, 2025 /PRNewswire/ -- New ezW2 2024 tax preparation software is available for employers to process W2 and 1099 NEC forms for the looming Jan 31 2024 deadline.

Forms 1099-MISC and 1099-NEC . Form 1099-MISC reports miscellaneous income, which encompasses a large basket. It includes numerous sources, most of them reportable at $600 or more.

Form 1099-NEC documents nonemployee compensation. You'll receive this form if you were self-employed (gig worker, freelancer) or did independent contractor work amounting to over $600 last year. ...

Because Form 1099-NEC is in use again, Form 1099-MISC is no longer used to report nonemployee compensation. Box seven of the 1099-MISC used to include nonemployee compensation, but it's now used ...

Here are the key differences between tax forms 1099-NEC and 1099-MISC. If you were self-employed in 2020, you may have received Form 1099-NEC, Nonemployee Compensation, ...

- As such, there is now a slot on Schedule 1 of Form 1040 to enter the amount that your client received a 1099-K for that is not taxable. - Beginning in 2022, the 1099-NEC was made so that it's no ...

When filling out Form 1099-MISC and Form 1099-NEC, make sure you have the right information for both you and the one who received the payment. You can find relevant information on the employee's W-9 .