2020 1099-NEC Form For Reporting Non-Employee Payments
2020 1099-NEC Form For Reporting Non-Employee Payments: 2020 1099- NEC Form is used for reporting non-employee payments of $600 or more in the course of your trade or business. Still, filer needs to use the 1099-Misc Form for reporting payments such as royalties, rents, and health care payments. File 1099 NEC online For reporting non-employee payments, IRS reintroduces the 1099-NEC Tax Form for the 2020 tax year. Now, the government is bringing back the 1099-NEC Form for reporting non-employee compensation. The form was last used in 1982. New IRS 1099-NEC Form for 2020 Tax Year Internal Revenue Service reuses 1099-NEC Form for 2020 tax year for reporting Contractor payments. Here, we provide details about the IRS 1099-NEC Form. Main Purpose of Reintroducing 1099-NEC Form Generally, the 1099-NEC Box 1 mainly…