Back to Basics: Revisiting Form 1099-NEC | Product

Form 1099-NEC is the foundational form almost all organizations issue. At its heart, it seems deceptively simple -- it reports payments to independent contractors. But who is a contractor? What exactly do we mean by contract labor? There are many potholes and side roads that can come into play with a seemingly simple form. This session will cover: who is a contractor; what types of payments are contract labor; proper handling of reimbursements; proper reporting of tips and overtime under new tax law; getting the form filed; and dealing with state issues.

Agenda & Learning Objectives

• Define who a contractor is
• Understand what nonemployee compensation is
• Understand how to handle reimbursements to a contractor
• Understand how to properly report tips and overtime payments on a 1099
• Identify how to file the form
• Understand issues surrounding state filings