Nonemployee Compensation Tag

The IRS has released the 2021 version of Form 1099-NEC (Nonemployee Compensation) and draft instructions for Forms 1099-NEC and 1099-MISC. Background. Beginning with the 2020 tax year, a payer must file Form 1099-NEC for each person in the course of the payer's business to whom the payer has paid at least...