5 Things to Know About IRS Form 1099-NEC

Keeping pace with the number of regulatory updates and tax form changes has become a challenge for businesses. Just when you think you have everything figured out, along comes another complicated form. 

In 2020 the IRS re-introduced Form 1099-NEC for nonemployee compensation. This change impacts organizations of every type and size. We have assembled a list of the five things you absolutely need to know about Form 1099-NEC.

Additionally, Sovos has a resource center for for Form 1099-NEC & Direct to State Reporting. Learn more. 

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