Methods of Filing 1099-NEC Forms with the IRS and States

In a recent IOFM webinar, Your Top 1099-NEC Questions Answered, Marianne Couch of COKALA Tax Information Reporting Solutions addressed some of our members’ most pressing questions about the new 1099-NEC form. This form replaces the 1099-MISC for reporting of non-employee compensation, and must be filed by February 1, 2021 for applicable 2020 payments. Because the new forms were introduced late in 2020, they are not yet included in the combined federal/state filing program, meaning that they…