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Separate State Filing Required for Form 1099-NEC | Morgan Lewis - ML Benefits

To embed, copy and paste the code into your website or blog: For the 2020 tax year, the Internal Revenue Service (IRS) moved reporting of certain nonemployee compensation, including current and deferred compensation paid to independent contractors and corporate directors, from Form 1099-MISC to revived Form 1099-NEC (see our previous LawFlash). However, according to IRS Publication 1220, released on October 20, 2020, โ€œForm 1099-NEC, Nonemployee Compensation is not part of the Combined Federa...
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