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IRS Announces Changes To Form 1099-NEC And Form 1099-MISC

IRS Announces Changes to Form 1099-NEC and Form 1099-MISC

If you file 1099 Forms for your business, you’ll need to know about recent changes to both the Forms 1099- NEC and Forms 1099-MISC

What’s New for Form 1099-NEC

The most important change that you need to be aware of is that the non-employee compensation (formerly on box 7 of the Form 1099-MISC) has now moved to Form 1099-NEC.

The PATH Act accelerated the due date for filing Form 1099 from February 28 to January 31. It also eliminated the 30-day extension for forms that include the NEC.

The Redesigned Form 1099-MISC

Other changes with Form 1099 include:

  • Crop insurance proceeds are reported in box 9.
  • Gross proceeds to an attorney are reported in box 10.
  • Section 409A deferrals are reported in box 12.
  • Nonqualified deferred compensation income is reported in box 14.
  • Boxes 15, 16, and 17 report state taxes withheld, state identification number, and amount of income earned in the state, respectively.

Changes to Form 1099-MISC

Remember, you’ll need to file a 1099-MISC for the following:

  • A person to whom you’ve paid at least $10 in royalties
  • A person to whom you’ve paid at least $600 in rent, prizes or awards, other income payments, medical and healthcare payments and other payments (you can find a complete list at

If you have questions about Forms 1099-NEC or Forms 1099-MISC, please contact your Mize payroll or tax professional.

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