If your business pays nonemployee compensation and other reportable payments, you must be aware of two forms: Form 1099-MISC and Form 1099-NEC. Many employers are likely familiar with Form 1099-MISC.

The 1099 is a very common form in the small business world. Many owners issue them, many freelancers use them to file. With tax season beginning, now is a great chance to get up to speed with this ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Businesses must file payroll forms on time to stay in good ...

If you run a small business and work with independent contractors, the different tax forms you’re responsible for processing with nonemployee hires might feel like alphabet soup. Two of the most ...

A W2 is a tax form issued to employees who earned more than $600 for the year by their employers after the conclusion of every calendar year. It reports the employee’s wages, commissions, tips and ...

SAN ANTONIO , Jan. 30, 2025 /PRNewswire/ -- All organizations that hired independent contractors in 2024 must file Forms 1099-NEC, Nonemployee Compensation, by January 31 to avoid costly penalties.