1099 Reporting Changes You Need to Know About for 2020 Filing

This year, if you aren't up to speed on 1099 changes, it could mean costly failures in your IRS tax compliance. - The IRS has made some significant changes in 1099 filings for 2020 payments. For example, Form 1099-MISC, used to report payments to contractors, has been reformatted. Some of the information you are accustomed to reporting on 1099-MISC has been moved to a different form, Form 1099-NEC. Following is a brief overview of what’s different. However, if you are responsible for 1099…