How will your company adapt its processes for managing and filing 1099-NEC forms to comply with the new requirements?

Collect W-9s as contractors are onboarded rather than in January, keep contractor payments separate from payroll in your books, and use a provider that transmits to the IRS electronically.

The threshold counts all information returns together, so 1099s plus W-2s reaching 10 makes e-filing mandatory. Our 1099-NEC guide covers the detail.