1099-misc Tax Form [exclusive] Page

Historically, businesses used Box 7 of the 1099-MISC to report non-employee compensation (NEC)—i.e., payments to independent contractors exceeding $600. This changed with the Protecting Americans from Tax Hikes (PATH) Act of 2015, which accelerated the deadline for NEC reporting to January 31st. To reconcile this earlier deadline with the 1099-MISC’s later filing date (February 28th or March 31st), the IRS resurrected the previously obsolete Form 1099-NEC in tax year 2020. Consequently, as of 2020, Box 7 of the 1099-MISC is no longer used. All non-employee compensation is now reported on Form 1099-NEC.

Note: If filing electronically (e-filing is mandatory for those with 250+ forms), the March 31 deadline applies. 1099-misc tax form

The 1099-MISC Form: Historical Context, Current Application, and Compliance Requirements Historically, businesses used Box 7 of the 1099-MISC