Despite COVID-19, the Internal Revenue Service is continuing forward with moving 1099-MISC Box 7, “Non-Employee Compensation” to a new form, the 1099-NEC. This is effective starting this tax year, ...

Paying taxes is never fun when you're self-employed, but the Internal Revenue Service (IRS) does do their best to make the process as streamlined as possible. With that being said, many freelancers ...

If you made money from freelancing or gig economy work in 2020, you will receive a new tax form by February 1, 2021—Form 1099-NEC. This replaces Form 1099-MISC, which companies have to send when you ...

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Tax Form 1099-misc on a white background. Self-employment tax can ...