What is 1099-NEC What is 1099-NECWhat 1099NEC – Nonemployee compensation form Who -To send – Business who paid to nonemployee/vendor over $600 total in 2022 for services provided -To receive – sole proprietor/LLC who provided the services to a business and has been paid by check/ACH/cash. When By January 31st of each year for the prior calendar year How Filing online using the accounting software or mail to IRS and mail a copy to the vendor Why Income tax or social security and Medicare tax weren’t withheld from the payment transaction Whatch this video to understand more Info was taken from official IRS website – https://www.irs.gov/forms-pubs/about-form-1099-nec Share This Story, Choose Your Platform! FacebookTwitterRedditLinkedInWhatsAppTumblrPinterestVkEmail