New Form 1099-NEC The IRS has made big changes to the 1099-MISC form by reviving the 1099-NEC form. Beginning with the 2020 tax year (to
The 1099-MISC form is known as an “Information Return” Form 1099 is one of many forms that the IRS requires to be sent to individuals
Under certain circumstances an entity making payments in the normal course of business to a United States individual or an entity will be required to
IRS updates backup withholding CP2100 and CP2100A notices On November 14, 2019, the IRS issued a statement that they had redesigned the CP2100 and CP2100
I recently had the pleasure of joining Debra Richardson on her weekly podcast to discuss the new proposed Form 1099-NEC form and best practices for
Implement strong procedures today, don’t wait until year-end. I know the deal, having been a controller for 20 years. You got through the 1099 season and
The importance of filing timely The IRS has gotten serious about 1099-MISC and 1099-NEC due dates. Penalties have risen significantly and they apply separately to copies sent
Most companies ask for all W-9 forms to be signed. However, it is a relatively unknown fact that the IRS does not require most W-9
If you fail to file a correct information return (like a 1099-MISC) by the due date and you cannot show reasonable cause, you may be
The IRS has proposed regulations amending the rules for determining whether information returns must be filed electronically. The proposed regulations would require that all information
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