DATE HOSTED: 10/21/2020
DURATION: 60 Minutes
Sovos has launched a NEW 1099-NEC & Direct to State Reporting Service offering to help our clients stay compliant this tax season.
The IRS has released the 2020 version of Publication 1220. One of the most notable changes is that Form 1099-NEC (Nonemployee Compensation)—which was previously reported on Form 1099-MISC utilizing Box 7—will not be included in the Combined Federal/State Filing (CFS) program. This means that for tax year 2020 there will be no mechanism for the reporting of non-employee compensation from the IRS to state governments.
Never fear, Sovos has you covered! Register for our webinar to learn about:
Regulatory Analysis Manager
Director of Product Management