1099-NEC Quick Quiz

If you attended IOFM’s recent webinar, “Form 1099 Year-End Changes for 2020 including NEW Form 1099-NEC,” you should be able to easily answer the following quiz questions: 1.       What does the acronym NEC stand for? --------------------------------------------------------------- 2.       Which types of organizations are exempt from being reported on Form 1099-NEC? (Select all correct answers)      A.      Corporations providing legal services      B.      Government payees    …