Starting with tax year 2020, Form 1099-MISC (Miscellaneous Income) has been replaced with Form 1099-NEC (Nonemployee Compensation). Employers no longer need to report non-employee compensation, such as payments to independent contractors, on Form 1099-MISC. Read for more information on the difference between Form 1099-NEC and Form 1099-MISC. Diving into W-2s and 1099s. It’s almost the […]
