Despite COVID-19, the Internal Revenue Service is continuing forward with moving 1099-MISC Box 7, “Non-Employee Compensation” to a new form, the 1099-NEC. This is effective starting this tax year, ...

Backup withholding is a tax on certain nonpayroll income. Learn more about how it works, which payments it applies to and how to stop it. Many, or all, of the products featured on this page are from ...

For businesses across America, it’s that time again to think about the necessary IRS paperwork. But there have also been some changes, as should be no surprise. One is regarding the 1099-MISC form.