Who Requires A Form 1099-nec?
July 28, 2022 ⚊ 1 Min read ⚊ Views 135 ⚊ BUSINESS
If your business hired a contractor and paid them more than $600 in a year, it’s your responsibility to file a Form 1099-NEC with the IRS and send a copy to the contractor. However, if the independent contractor is registered as a C-corp or S-corp, a 1099-NEC will not be required.
You do not have to file a Form 1099-NEC for the employees for paying the wages, tips, and other compensation during a tax year. Instead, a Form W-2 Online would be submitted to ensure it captures information on taxes paid by both the employee and employer.
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