Stay Updated on New Requirements for Form 1099-NEC & Direct State Reporting

The latest version of Publication 1220 released by the IRS states that form 1099-NEC data will not be filed with the states through the Combined Federal/State Filing (CF/SF) Program. A number of states are beginning to release guidance on direct reporting of the 1099-NEC and we anticipate there will be many more to come.

Our team of tax and regulatory experts are closely tracking regulatory changes on the federal and state level including any new direct to state reporting requirements for the 1099-NEC. Sign up now to receive regular email updates on blogs published by Sovos to keep you ahead of this rapidly evolving tax year 2020 reporting issue.