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1099-MISC vs 1099-NEC: Understanding the Key Differences
Financial Services - Dallas (Texas) - December 19, 2025 75201.00 Dollar US$

The IRS separated nonemployee compensation from the 1099-MISC to create the 1099-NEC in 2020. The 1099 NEC vs 1099 MISC 2024 distinction is crucial for proper tax reporting. Use form 1099-NEC for independent contractor payments exceeding $600, while ...