Advantages of Filing Form 1099-NEC Online With 123PayStubs
Here are the best benefits you’ll get when choosing 123PayStubs to file Form 1099-NEC.
Instant Filing Status
We will notify you of the return status via email once the IRS processes your return.
Our system will validate your tax returns based on IRS business rules to reduce the chances of form rejection.
Mail Employee Copies
Choose our postal mailing option and we’ll send copies of Form 1099-NEC to your recipients on your behalf.
We’ll auto-generate your Form 1096 while you file Form 1099-NEC with us and send it to the IRS.
What Information is Needed to E-File Form 1099-NEC?
Below is the required information to file Form 1099-NEC online:
- 1. Payer Information: Name, TIN, and Address
- 2. Recipient Information: Name, SSN/TIN, and Address
- 3. Nonemployee compensation
- 4. State Filing Information: State Income, Payer State Number, and State Tax Withheld
Have these details ready? Start filing your Form 1099-NEC in minutes.
Frequently Asked Questions on Form 1099-NEC
What is IRS Form 1099-NEC?
Form 1099-NEC is filed to report payments ($600 or more) made to independent contractors (or nonemployees) for their services. Earlier, nonemployee compensation was reported in Box 7 of Form 1099-MISC. Now, the IRS wants it to be reported in a separate form.
The following payments should be reported in Form 1099-NEC.
- Other forms of compensation for service
When is the deadline to file Form 1099-NEC?
For the 2020 tax year, the due date to send recipient copies is February 01, 2021. Also, the deadline to file the return with the IRS is February 01, 2021 (For both paper and electronic filing).
Are there any exemptions for filing Form 1099-NEC?
Yes, there are some scenarios where you don’t need to file Form 1099-NEC.
If you have paid
- C or S corporation,
- For the merchandise, telegrams, telephone, freight, storage, and similar items,
- Tax-exempt organizations,you are not required to file Form 1099-NEC.
When would you file a Form 1099-NEC?
You are required to file Form 1099-NEC if one of the following conditions met:
- You have paid someone other than your regular employee at least $600 in the calendar year.
- You paid an individual, partnership, estate, or, even, a corporation for their services. It also includes government agencies and nonprofit organizations.