1099-MISC vs 1099-NEC 7 Key Differences Every Business Owner Must Know

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2025-12-05 06:21:51 -

Tax season brings plenty of questions, and one of the most common confuses business owners every year: Should I file a 1099-MISC or a 1099-NEC? If you've hired contractors, paid freelancers, or made business payments over $600, this decision affects your compliance and could save you from costly penalties. The IRS reintroduced the 1099-NEC form in 2020, creating confusion that persists into...

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