Form NEC 1099 pertains solely for reporting the non-employee compensations and used for reporting independent contractor payments. This is a variation of Form 1099-MISC which can be used by taxpayers to submit information about non-employee compensation only. Taxpayers should file Form 1099-NEC by 31st January 2021 and for the year 2020 tax returns, the due date is stated as February 1, 2021. The extension to file is available only under special circumstances. Things that are reported in...
How do I report 1099-NEC Nonemployee Compensation?
January 18, 2021