TAX FORMS & E-FILE
The latest on 2021 Tax Forms is here.
In 2020, the IRS released Form 1099-NEC, replacing Form 1099-MISC with box 7 data. For tax year 2021, the IRS has redesigned Form 1099-NEC to three forms per page, as compared to the previous year where it was constructed of two forms. Due to this change, a new envelope will be required for distributing recipient copies.
To get up to speed quickly on what’s changed and why it matters:
Check out this helpful PDF guide to the 2021 Form 1099-NEC redesign
Watch this short video on the differences between 1099-NEC and 1099-MISC
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