14 Dec 2020 Changes to 1099 Fillings
New 1099-NEC and other 1099 Revisions.
Don’t forget, you must provide 1099s for 2020 to workers no later than Feb. 1, 2021. The forms are normally due Jan. 31, but since it falls on a Sunday in 2021, the due date is Feb. 1.
The IRS has switched forms for 2020 reporting. If you use workers other than employees to perform services for your business and pay them $600 or more for the year, you must issue each one a Form 1099-NEC. Also, make sure you have non-employee workers or service providers complete a Form W-9 for 2020.
1099-NEC forms must be filed electronically or on special scannable forms. If you need assistance with filing 1099-NEC or have questions, please contact Haynie & Company.
1099-NEC in QuickBooks Online
QuickBooks users, make sure you understand the payment categories for the new 1099-MISC and 1099-NEC. Find out which forms or boxes to choose in QuickBooks Online. Read the full article from the experts at Intuit.
Create and file 1099s using QuickBooks Online
QuickBooks Online has a time saving feature to help you prepare your 1099s from the info you already have in your accounts. Learn more about what a 1099 is and how to file one. Learn how to prepare and file your Federal 1099s using QuickBooks Online. Read the full article from the experts at Intuit.