After a 38-year non-appearance, Form 1099-NEC Filing made its return in the 2020 tax year. For the last few periods, business owners were responsible for using Form 1099-MISC Online to report nonemployee compensation. But with Form 1099-NEC, employers can say hello to a restored form and goodbye to reporting nonemployee compensation on Form 1099-MISC.

So, move over, Form 1099-MISC. There’s a new sheriff in town, and its name is Form 1099-NEC.

What is Form 1099-NEC Online?

Form…

After a 38-year non-appearance, Form 1099-NEC Filing made its return in the 2020 tax year. For the last few periods, business owners were responsible for using Form 1099-MISC Online to report nonemployee compensation. But with Form 1099-NEC, employers can say hello to a restored form and goodbye to reporting nonemployee compensation on Form 1099-MISC.

So, move over, Form 1099-MISC. There’s a new sheriff in town, and its name is Form 1099-NEC.

What is Form 1099-NEC Online?

Form…

The IRS has delivered last Affordable Care Act (ACA) data detailing form and guidelines for 2021. As an update, Forms 1094-B and 1095-B are filed by least fundamental inclusion suppliers (back up plans, government-supported wellbeing projects, and some self-guaranteeing bosses and others) to report inclusion data as per Code § 6055. Form 1094-C and 1095-C are filed by appropriate huge bosses (ALEs) to give data that the IRS needs to direct business shared liability punishments and…