1099-NEC vs. 1099-MISC, What is the Difference?

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Episode notes

In this episode we discuss the new 1099-NEC form which goes into affect 2021 for the 2020 tax year.
We will discuss:
1. What is the Form 1099-NEC?
2. What is the threshold for filing a 1099-NEC?
3. When are 1099s due?
4. Are there any exemptions to filing a 1099-NEC or 1099-MISC?

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