If you’ve paid a certain amount of money to an independent contractor, or are the independent contractor yourself, it’s important for you to have a 1099-NEC form. This form allows you to report the money exchanged for freelance goods and/or services so that both parties can file their taxes properly.
But as with many other 1099 forms, finding the right one for your specific needs can prove to be a challenge. If you want to learn some places to pick up a 1099-NEC form, this article is for you! Keep reading for more information.
Why Having a 1099-NEC Is Important
First, let’s review why you need a 1099-NEC.
Traditionally, an employee is required to pay a portion of every paycheck in taxes. As most of us know, these are then reported on a W-2 form and filed for taxes the following year.
But when you’re a freelancer, you don’t exactly pay taxes to the people that hired you. If your service, for example, is painting a mural, and you charge $750, all of that money goes straight to you (or whoever you hired). You then have to report those taxes as an independent contractor.
The 1099-NEC is used for this. 1099 are tax forms, and the NEC stands for non-employee compensation. You’ll need the information for both parties to fill out this form, including a TIN.
As of 2020, all business taxpayers who have paid over $600 to a single independent contractor in a fiscal year are required to submit a 1099-NEC.
How to Get a 1099-NEC Form
Getting a 1099-NEC form is not difficult at all. You can find them at most major office supply stores near you, alongside other important tax documents such as W-2 forms.
You might also be able to pick up 1099-NEC forms from your local accounting firm if you have one nearby. Obtaining 1099-NEC forms can also be done via mail by ordering directly from the IRS. Just know that it might take a while if you do so.
If you search where to find 1099-NEC forms, you might see a copy of them on image platforms such as Google images. Do not print these or any other unauthorized forms. Official 1099-NEC forms will have a specific red ink on page A that cannot be duplicated.
1099-NEC generator is here to save the day. You can do it all online, and filling it out takes less than five minutes!
Filling Out the 1099-NEC Form
If you use our generator, filling out the 1099-NEC form is super easy! We provide you with all the necessary questions, all you have to do is fill in the blanks.
You can also contact us if you have any questions regarding our generator by visiting here. Other than that, we recommend using a tax expert to help you with your business taxes, as they are specialized in the field. This recommendation is especially true for those who have just begun using form 1099-NEC & independent contractors.
We hope this short guide helped you find out where to pick up the 1099-NEC form. It’s pretty easy to obtain, as well as filling it out.