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 Publication 15 Circular E, Employer's Tax Guide 2022-2025

Publication 15 2022-2025 Form

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Instructions and help about is withholding income tax

internal revenue service irs tax news businesses must report non-employee compensation and backup withholding irs tax tip 2021-88 june 21 2021 by law business taxpayers who pay or receive non-employee compensation of 600 or more must report these payments to the irs they do this using form 1099 nec non-employee compensation let me give a quick recap here before we do just note that the form 1099 you might remember a 1099 miscellaneous so now we have the 1099 nec which is the non-employee compensation but basically this process has been somewhat similar for some time now the idea being that the irs is going to pressure the person who is paying so that to report what they are paying to whoever they are paying such as an employee if it was an employee relationship or in a contractor relationship to the contractor so if you hire a contractor they're going to pressure you as the person who is paying if you're the business paying to issue the 1099 form why does the irs do thi

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