1099 Reporting Changes You Need to Know About for 2020 Filing

July 7, 2020

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This year, if you aren't up to speed on 1099 changes, it could mean costly failures in your IRS tax compliance. - The IRS has made some significant changes in 1099 filings for 2020 payments. For example, Form 1099-MISC, used to report payments to contractors, has been reformatted. Some of the information you are accustomed to reporting on 1099-MISC has been moved to a different form, Form 1099-NEC. Following is a brief overview of what’s different. However, if you are responsible for 1099…

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