January 31st is the deadline to provide Forms 1099-MISC and 1099-NEC

Updated: Feb 10



WASHINGTON — The Internal Revenue Service today reminded businesses and other payors that the revised Form 1099-MISC, Miscellaneous Income PDF, and the new Form 1099-NEC, Nonemployee Compensation PDF, must be furnished to most recipients by January 31st.


Deadlines help fraud detection

The due dates for information returns, like Forms 1099-MISC and 1099-NEC, help the IRS more easily detect refund fraud by verifying the income that individuals report on their tax returns. Payors can help support that process, and avoid penalties, by filing the forms on time and without errors. The IRS recommends e-file as the quickest, most accurate, and convenient way to file these forms.


For more information, the instructions for Forms 1099-MISC and 1099-NEC are available on IRS.gov.


Source


United States Tax Services Tax Preparation, Payroll, Accounting, Tax Planning contact@unitedstatestaxservices.us

https://unitedstatestaxservices.us/


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