Form 1099-NEC is used for reporting compensation paid to nonemployees. Here's what you need to know. Many, or all, of the products featured on this page are from our advertising partners who ...

Making a certain amount of cash from pursuing a passion or by having your own side gig means you owe taxes, according to the Internal Revenue Service, but you won’t receive a W-2 form as you would ...

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 ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. This article is more than 3 years old. Closeup of Form 1099-NEC, ...

If you run a small business and work with independent contractors, the different tax forms you’re responsible for processing with nonemployee hires might feel like alphabet soup. Two of the most ...

Disclaimer: Always consult a tax professional to ensure you understand your business tax obligations. This article compiles information directly from the IRS and is intended as a resource and not tax ...

Korrena Bailie has over a decade of experience reporting and editing personal finance stories and reviews. Her work has been featured in Wirecutter, The New York Times, Bankrate and Credit Karma. Send ...

Knowing when to issue which kind of 1099 form to someone you paid money to can be a mystery to small business owners, but ...

For more than 100 years, the evolution of Form 1099 has required organizations to repeatedly adjust their tax reporting and compliance strategies in order to allow the Internal Revenue Service to ...

Form 1099 is used to report non-employee compensation paid to independent contractors, freelancers, and service providers. Federal regulations require businesses to issue Form 1099-NEC to qualifying ...

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.