If you made money from freelancing or gig economy work in 2020, you will receive a new tax form by February 1, 2021—Form 1099-NEC. This replaces Form 1099-MISC, which companies have to send when you ...

The IRS has reintroduced Form 1099-NEC as the new way to report self-employment income instead of Form 1099-MISC as traditionally had been used.

For the 2020 tax year, the Internal Revenue Service (IRS) moved reporting of certain nonemployee compensation, including current and deferred compensation paid to independent contractors and corporate ...

Disclaimer: Always consult a tax professional to ensure you understand your business tax obligations. This article compiles information directly from the IRS and is intended as a resource and not tax ...

A 1099 form reports income you earned as a non-employee, meaning taxes weren’t withheld from your pay throughout the year. You’ll typically receive one if you were paid as a freelancer, independent ...

What is tax form 1099-NEC? If you're self-employed, the 1099-NEC form specifically reports Nonemployee Compensation which you may have previously gotten on a 1099-MISC. Watch this TurboTax Support ...