For information on estimated tax payments, refer to form Form 1099 NEC, Nonemployee Compensation is the tax form for reporting income paid to nonemployees by a business While income paid to an employee is reported using Form W2, 1099NEC must be filed to report income paid to freelancers and independent contractors Let's say you hired an independent contractor to paint your office space1099 independent contractors are selfemployed freelancers and usually receive payments according to the terms of a contract They report income on their tax return with the IRS by getting a 1099 misc tax form Let's dive deeper into what distinguishes 1099 contractors and W2 employees What is a W2 Employee?
The New Form 1099 Nec And 1099 Best Practices To Kickstart 21
