1099 changes for tax year 2020

July 7, 2020

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Q. Regarding 1099 processing in 2021 (for tax reporting year 2020), are there any changes AP practitioners should be aware of? A. (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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