What is the difference between 1099 NEC vs. 1099 misc?
What is the difference between 1099 NEC and 1099 misc? Before 2021, you either issued or received a 1099-MISC if you were a freelancer or your small business hired contract work. The IRS has now developed Form 1099-NEC, a new form designed specifically for reporting income earned by independent contractors (formally defined as “non-employee compensation”). […]
