Filing a 1099-NEC (Nonemployee Compensation)
Filing a 1099-NEC (Nonemployee Compensation) form for the 2024 tax year involves several steps and requirements. Who Needs to File a 1099-NEC? You must file a 1099-NEC if you paid $600 or more to a nonemployee (e.g., an independent contractor) for services related to your trade or business during the tax year. 1. Form Overview:…