SAN ANTONIO , Jan. 30, 2025 /PRNewswire/ -- All organizations that hired independent contractors in 2024 must file Forms 1099-NEC, Nonemployee Compensation, by January 31 to avoid costly penalties.

Whether you're a business owner who relies on independent contractors or you make your living as a freelancer, understanding the difference between Form 1099-MISC and 1099-NEC is critical to ensuring ...

Whether you're a business owner who relies on independent contractors or you make your living as a freelancer, understanding the difference between Form 1099-MISC and 1099-NEC is critical to ensuring ...

Employers who pay independent contractors for work that is not paid through their payrolls do not take out deductions. The contractors file their own taxes and make the payments. As a result, ...

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The Internal Revenue Service has resurrected a form that hasn’t been used since the early 1980s, Form 1099-NEC, Nonemployee Compensation, with a draft version available for preview on its website.

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 ...

Making a certain amount of cash from pursuing a passion or by having your own side gig means you owe taxes, according to the Internal Revenue Service, but you won’t receive a W-2 form as you would ...