Form 1099-NEC: 2025 Compliance Guide
The IRS brought back Form 1099-NEC in 2020 after a 38-year break. Before that, businesses reported non-employee compensation on Form 1099-MISC, which caused confusion and filing errors. The return of 1099-NEC made it easier to track payments to freelancers, contractors, and other self-employed workers. If you fail to file this form correctly or miss the…