Breaking: IRS Removes Washington DC and Pennsylvania from CF/SF

April 17, 2023January 19, 2023 by Ken Ham

oops, accidentally had wrong states in cf/sf

In a surprise QuickAlerts announcement, the IRS has stated that there is an error in Publication 1220 and that DC and PA should not be listed among the states that participate in combined federal/state filing (CF/SF). Error in CF/SF List From the QuickAlert: “The current version of Publication 1220, (rev. 10-2022) Specifications for Electronic Filing … Read more

IRS Form 1099-NEC Guide for 2023 (TY2022)

May 18, 2023December 6, 2022 by Ken Ham

When preparing Form 1099-NEC filings, it is important that you know what information you need to gather. We’ve compiled the following 4 key topics in our Form 1099-NEC Guide that may help you to correctly and timely complete your filing. What’s new for Form 1099-NEC? (Jan. 2022 Rev.) The 1099-NEC and instructions have been updated … Read more

Import Spreadsheet Format Guidelines for Tax Year 2022

May 18, 2023December 1, 2022 by Ken Ham

Import spreadsheet format guidelines A Step-by-Step Guide

We’ve created Excel import spreadsheet templates to help you easily upload all of your 1095-B and 1095-C, 1099, and W-2 data. These templates are identical to the official IRS forms so that you can enter the information just as you would on paper. General Import Spreadsheet Guidelines For more in-depth or specific validation errors, you can … Read more

15 Question Quiz to Conquer Employee Vs Contractor Dilemma

April 17, 2023November 7, 2022 by Ryan Casarez

irs, form 1099, form 1099-misc, e-file, efiling, e-filing, contractors, independent contractors

During every tax year, the same question arises, “Is this person an employee or a contractor?” The Employee Vs Contractor classification is a critical part of filing and must be correct when it’s time to file and distribute forms to recipients. Incorrect forms can lead to the business being liable for employment taxes for that … Read more

Prepare Form 1099-NEC for IRS Reporting

May 18, 2023September 12, 2022 by Ken Ham

Working beside laptop - Prepare Form 1099-NEC

Once you are ready to begin your tax filing, you must gather the required information to prepare Form 1099-NEC. This includes information for the business, or payer, and recipient, or payee, as well as the amounts paid to the recipient. Form 1099-NEC is used to report nonemployee compensation amounts to the IRS. A nonemployee is … Read more

Avoid These Common Errors for Form 1099-NEC

May 18, 2023June 28, 2022 by Ken Ham

broken ceramics - Common Errors for Form 1099-NEC

Preparing Forms 1099-NEC can be difficult, but we are here to help simplify things! We have compiled this list to help ensure that you don’t make these common errors for Form 1099-NEC. A Brief History To reduce errors for Form 1099-NEC, it is important to know what this form is and how it is used. … Read more

Who Receives Form 1099-NEC?

May 18, 2023June 27, 2022 by Ken Ham

What is Form 1099-NEC? Form 1099-NEC is used to report nonemployee compensation amounts to the IRS. A nonemployee is defined as a person or business who is not employed by your company, such as independent contractors, freelancers, or outsourcing companies. Alternatively, if you need to report income amounts made by employees, then you should use … Read more

Mastering Form 1099-NEC: The Essential Guide

May 18, 2023June 6, 2022 by Michaela Porterfield

Form 1099-NEC is used to report non-employee compensation amounts to the IRS. A non-employee is defined as a person or business who is not employed by your company, such as independent contractors, freelancers, or outsourcing companies. Learn more about determining who should receive a Form 1099-NEC by navigating to our article “Who receives a Form … Read more

1099-MISC vs 1099-NEC: The Comprehensive Comparison Guide

May 18, 2023May 5, 2022 by Michaela Porterfield

Most individuals are familiar with Form 1099-MISC, so what is this new Form 1099-NEC? We’re here to outline the differences and give you the information you need to determine which forms to file. What is the Form 1099-NEC? Form 1099-NEC was reintroduced in 2020. It’s based on an older version of the form that hasn’t … Read more

Import Spreadsheet Format Guidelines for Tax Year 2021

April 17, 2023April 14, 2021 by Ken Ham

Who Receives Form 1099-NEC? – TY 2021

May 18, 2023April 13, 2021 by Ken Ham

An individual who is a nonemployee, or an independent contractor, receives Form 1099-NEC. A non-employee is defined as a person or business who is not employed by your company, such as independent contractors, freelancers, or outsourcing companies. The IRS instructs that a Form 1099-NEC, Nonemployee Compensation, must be completed each person who, in the previous … Read more

Avoid These Common Errors Form 1099-NEC – TY 2021

May 18, 2023April 13, 2021 by Ken Ham

There are many common errors Form 1099-NEC, so we have compiled this list to help ensure that you don’t make them. So, you have already: Then, it sounds like you are ready to complete and file your 1099-NEC forms. However, before you press that print or e-file button, take a moment to review your information … Read more

Common Errors for Form 1099-NEC – TY2020

May 18, 2023December 11, 2020 by Ken Ham

There are many common errors for completing forms 1099-NEC preparation. We know preparing Forms 1099-NEC can be difficult, but we are here to help simplify things! So, you have already: Then, it sounds like you are ready to complete and file your 1099-NEC forms. However, before you press that print or e-file button, take a … Read more

Form 1099-NEC: Who Should Receive a Form?

May 18, 2023December 11, 2020 by Ken Ham

Form 1099-NEC is used specifically to report payments to non-employees. A non-employee is defined as a person or business who is not employed by your company, such as independent contractors, freelancers, or outsourcing companies.

Prepare Form 1099-NEC – Gathering Information TY 2020

May 18, 2023December 11, 2020 by Ken Ham

Gather Information to Prepare Form 1099-NEC

We know that it can be difficult to prepare Form 1099-NEC, 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.