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Posted on Oct 29, 2020

MJB's Bookkeeping Solutions, LLC

Back to the future? In its heyday 1099NEC was all the rage from 1979 - 1982. Merging with 1099-Misc for "simplicity" worked okay until the 2015 PATH Act which caused IRS date processing issues and undeserved penalty issues. The bottom line is the classic is back. The 2020 1099NEC is for Non Employee Compensation only, with its own due date. Contact us for help filing your 1099NEC(s).

https://www.irs.gov/instructions/i1099msc

#taxmatters #1099NEC #oldisnewagain #indpendentcontractors #taxplanning #mjbsbookkeepingsolutions
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