Jeffery Edwards discusses the new tax form 1099-NEC, None Employee compensation which goes out to sole proprietors, those who preform services for you, those need to be sent by you, which replaces the line on the 1099-MISC about paying contractors, reporting fees, commissions, prizes, awards, and other compensation for services. Anyone that receives compensation in excess of $600, should receive a 1099-NEC or a 1099-MISC. When dealing with a corporation should not receive a 1099-NEC or a 1099-MISC, however all lawyers still received these forms. Stay tune to hear more!
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