01/12/2021
Happy New Year!!
DID YOU KNOW?
Starting with tax year 2020, the IRS has introduced the new 1099 NEC form which replaces the reporting of Non-Employee Compensation of more than $600 on the 1099-misc form? The due date for this reporting is aligned with W-2 reporting and must be in the hands of the recipient by January 31, 2021.
Need help with this new requirement?
Balance Accounting can help. PM or call to set up an appointment.
248-520-2146