New IRS Form 1099-NEC Replaces Form 1099-MISC

The IRS has replaced Form 1099-MISC with Form 1099-NEC (Nonemployee Compensation) for 2020. U.S. Dealers whose commission checks totaled more...

December 1, 2020

The IRS has replaced Form 1099-MISC with Form 1099-NEC (Nonemployee Compensation) for 2020. U.S. Dealers whose commission checks totaled more than $600 in 2020 should expect to see this form in January 2021.

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