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 Gen Instr for Certain Info Returns Form 2016

2016-2025 Form

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Instructions and help about Gen Instr For Certain Info Returns Form

hi and welcome to our presentation on the 2020 instructions for form 1099 nec if you're a business owner or tax professional it's time to get familiar with the 2020 1099 nec form from the irs beginning with tax year 2020 this form replaces form 1099 miscellaneous for reporting non-employee compensation which was previously captured in box 7 of the 1099 miscellaneous form the new 1099 nec nec stands for non-employee compensation is based on an old form that's been out of use since 1982 to use the reinstated 1099 nec properly you need to understand what is considered non-employee compensation so what is non-employee compensation any payments to non-employee service providers such as independent contractors freelancers vendors consultants and other self-employed individuals commonly referred to as 1099 workers ing to the irs if the following four conditions are met you must generally report a payment as non-employee compensation one it is made to someone who is not

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