A publication that details the electronic filing instructions for several 2020 information forms, including the Form 1099 series, was released Sept. 11 by the Internal Revenue Service.
The 2020 version of Publication 1220, Specifications for Electronic Filing of Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G, offers guidance on preparing the forms and transferring the information to an acceptable file format.
The publication includes a section on Form 1099-MISC, Miscellaneous Income, and Form 1099-NEC, Nonemployee Compensation, which are to be filed together. The 2020 Form 1099-NEC is to be filed electronically by Feb. 1, 2021. Form 1099-MISC is ...
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