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Glossary

Form 1099 (NEC and MISC)

IRS forms a business files each January reporting what it paid contractors during the year.

The IRS forms a business files each January reporting what it paid non-employees during the year: 1099-NEC for contractor services, 1099-MISC for rent, royalties, prizes, and similar. Each payment category has its own reporting threshold.

In Bizdivers: payments are tracked against thresholds all year and the forms generate with one click. See 1099 season without the scramble.