Form 1099-MISC is used to report miscellaneous income by businesses and is been approved by the IRS to make a certain type of payment. This form covers a range of payments that one receives such as royalties, rent, awards, prizes, and even substitute payments in the form of dividends. Most commonly this form is used to report one’s earning when they work as freelancers or as independent contractors. Form 1099- MISC by the IRS The 1099- NEC...
Revise Instructions to File your Form 1099-MISC | 1099 Instructions
January 25, 2021