New State Requirements for 1099-NEC

In mid-September the IRS issued its 2020 version of Publication 1220, Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3921, 5498, and W-2G. The big news is that the 1099-NEC form is not included in the IRS 1099 Combined Federal/State Filing Program for 2020, so payers don’t have that option of having electronic 1099-NEC files automatically forwarded to states. This subject will be covered in our next Live Compliance Webinar: Form 1099 Year-End Changes for 2020 including NEW Form…