1099 changes for tax year 2020
July 7, 2020
Q. Regarding 1099 processing in 2021 (for tax reporting year 2020), are there any changes AP practitioners should be aware of?
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S, and state reporting.)
1. FORM 1099-MISCIRS tax information return which reports certain payments of rent, royalties, medical and health care payments, “other income” and…
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