Gathering Information for Form 1099-NEC

Preparing Forms 1099-NEC can be difficult,  but we are here to help simplify things!

Before you prepare your Forms 1099-NEC, you will need to gather the tax information for the business or payer and recipient or payee, as well as the amounts paid to the recipient.

A. Business Information

You will need to include the following information on each 1099-MISC form you prepare.

  • Federal Employer ID Number
  • Business Name
  • Business Address

B. Recipient’s Information

Before completing a 1099-NEC form for any non-employee, have them fill out a W-9 form. A W-9 form, like W-4s for employees, will provide you with the relevant information for the recipient such as their name, address, and tax identification number.

C. Payment Amounts

The IRS instructs that a Form 1099-NEC, Nonemployee Compensation, must be completed each person who, in the previous tax year, has been paid for certain amounts.

It is recommended to view the IRS instructions for the amount types and their corresponding box number, as these are susceptible to change year to year.

Be sure to report each payment in the proper box because the IRS uses this information to determine whether the recipient has properly reported the payment.

See the IRS instructions for Form 1099-NEC for more details.

Need more information on Form 1099-NEC?

For more information on Form 1099-NEC filing, check out our other blog posts linked below:

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