You might receive this document if you have freelance work, investment income, retirement distributions or other financial ...

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 ...

The IRS has reintroduced Form 1099-NEC as the new way to report self-employment income instead of Form 1099-MISC as traditionally had been used.

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 ...

The Internal Revenue Service has resurrected a form that hasn’t been used since the early 1980s, Form 1099-NEC, Nonemployee Compensation, with a draft version available for preview on its website.

There are penalties for missing the deadline for the new 1099-NEC form and updated 1099-MISC for both tax filers and businesses.

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 ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Tax Form 1099-misc on a white background. Self-employment tax can ...

For the 2020 tax year, the Internal Revenue Service (IRS) moved reporting of certain nonemployee compensation, including current and deferred compensation paid to independent contractors and corporate ...

What is tax form 1099-NEC? If you're self-employed, the 1099-NEC form specifically reports Nonemployee Compensation which you may have previously gotten on a 1099-MISC. Watch this TurboTax Support ...

Form 1099-NEC isn’t a new form, but it hasn’t been in use since 1982. The IRS is bringing it back as a dedicated form for reporting self-employment income. You’ll use it this year instead of putting ...