E-file 2020 Form 1099 NEC Online
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Direct State Filing for 50 states
Quickly and easily efile your State 1099 Forms along with any State Recon/Transmittal Forms that you may need.
Postal Mail & Online Access
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FIRE File Upload
Do you have the 1099 data in the FIRE file format? We e-file your Form 1099 and mail the copies to your recipient.
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Make use of our bulk upload template and simplify the time taken in manually uploading your 1099 Form data.
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- Michael MorrisWhat Information is Required to E-file Form 1099 NEC Online?
- 1. Payer Details: Name, TIN, and Address
- 2. Recipient Details: Name, TIN, and Address
- 3. Nonemployee compensation
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4. Federal income tax withheld
- a. Federal Details: Miscellaneous Incomes and Federal Tax Withheld
- 5. State Filing Details: State Income, Payer State Number, and State Tax Withheld
Start e-filing your Form 1099 NEC with TaxBandits and Get Instant Approval from the IRS.
How to E-file Form 1099-NEC Online for 2020
with TaxBandits?
Enter Payer Details
Enter Recipient Details
Review your Form 1099 NEC / 1096
Transmit your Form 1099 NEC to the IRS
Recipient Copy (Postal)
Frequently Asked Questions
What is IRS Form 1099-NEC?
Form 1099-NEC is used to report payments made to nonemployees or independent contractors for their work. Previously, it was reported in box no 7 of Form 1099-MISC. Now, the IRS has separated box 7 from Form 1099-MISC and introduced it as a new form.
From the tax year 2020, the payer must use Form 1099-NEC to report nonemployee compensation of $600 or more paid to the contractors for their service. The following payments should be reported in Form 1099-NEC.
- Fees
- Commissions
- Prizes
- Awards
- Other forms of compensation for service
You can e-file Form 1099-NEC at TaxBandits before the deadline and stay away from unnecessary penalties.
Who Is Required To File Form 1099-NEC?
The payer must file Form 1099-NEC if the following conditions are met.
- You made payments of at least $600 or more to the payee during the year.
- You made payments to individuals who are not in your payroll.
- You paid an individual, estate, partnership, or corporation.
- You made payments for services related to your trade or business.
TaxBandits is here to help you with Form 1099-NEC e-filing. Create a free account to get started with TaxBandits.
When is the deadline to file Form 1099-NEC?
To avoid penalties from the IRS, it is mandatory to file your Form 1099-NEC before the deadline. Usually, the deadline to file Form 1099-NEC is January 31. If any filing deadline falls on a Saturday, Sunday, or legal holiday, you may file your return on the next business day.
For the tax year 2020, the deadline for filing Form 1099-NEC is February 1, 2021. Before the deadline, you need to send Copy A to the IRS and Copy B to the independent contractor, a recipient. Then, keep a Copy C for your business records, and Copy 1 should be sent to the state department if needed.
TaxBandits allows you to e-file Form 1099-NEC easily and securely. Get started with TaxBandits and file your returns with the IRS.
What are the Boxes in Form 1099-NEC?
IRS Form 1099-NEC comprises 7 boxes and other columns to enter various information. Let's see the complete explanation below.
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Box 1: Nonemployee compensation
Enter nonemployee compensation of $600 or above in this box, including fees, commissions, prizes, awards, and other compensation forms.
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Box 4: Federal Income Tax withheld
Fill in the backup withholding. For instance, if the recipient has not furnished their TIN, you have to withhold a certain portion from the amount reported in box 1.
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Box 5 - 7: State Information
Use these boxes to enter your state information.
- Box 5 - Enter the state income tax amount withheld from the payment.
- Box 6 - Enter the abbreviated state name and payer's state identification number.
- Box 7 - Enter the State income.
Note: If you have not withheld any state income tax, you can leave the boxes empty.
If you want to e-file Form 1099-NEC, TaxBandits is here to help!
What are the exceptions to File Form 1099 NEC?
There are some cases where you are exempted from filing Form 1099-NEC. You don't have to file Form 1099-NEC if the following criteria are met.
- You made payments to C or S corporation.
- You paid for the merchandise, telegrams, telephone, freight, storage, and similar items.
- You paid tax-exempt organizations.
