User:Pawan kandurla/sandbox

Form 1099-NEC
Starting tax year 2020, IRS introduced Form 1099-NEC. Form 1099-NEC is a variant of Form 1099 used to report Nonemployee Compensation. One notable use of Form 1099-NEC was to report non-employee compensation of $600 ore more for the year, to the IRS and the recipient. Non-employees include freelancers, independent contractors, small businesses, and professionals who provide services. The compensation being reported must be for services for a trade or business.