2021 Changes in Form 1099 Reporting
The biggest change in many decades for Accounts Payable’s Form 1099 reporting was implemented in 2021: the new Form 1099-NEC due January 31 and the major redesign of Form 1099-MISC. Now further changes are coming for 2021 Form 1099 filing due in 2022. This important annual update for your tax information and withholding compliance will spotlight the changes and how to prepare to implement them. In addition, you’ll learn about changes in regulations impacting Form 1099 reporting and the electronic filing mandate, and an update on Form 1042-S reporting requirements for payments to foreign vendors.