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Tax Tip Tuesday: Tip #49, New for 2020 - Form 1099-NEC replaces box 7 on 1099-MISC

October 28, 2020

local accounting firms near me - Amanda Fricton Certified Public Accountant Bio IMGIf you pay a non-employee over $600 in 2020, this is no longer reported to the recipient and IRS on Form 1099-MISC. New for 2020, all non-employee compensation will be reported on Form 1099-NEC.

For more information, contact Erin Pitts at (770) 287-7800 or epitts@rushtonandcompany.com. Stay tuned for more tax tips or follow them on our social media accounts every #TaxTipTuesday!