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ARTICLE · 09 JANUARY 2024

1099-MISC Vs 1099-NEC And New E-Filing Requirement

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In 2021, the IRS released a new form: Form 1099-NEC. This form is still in use for 2023, along with Form 1099-MISC. However, there seems to be some ongoing confusion over which form to use.

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D'Ann Meisenheimer
D'Ann Meisenheimer
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In 2021, the IRS released a new form: Form 1099-NEC. This form is still in use for 2023, along with Form 1099-MISC. However, there seems to be some ongoing confusion over which form to use. This Client Alert will provide you with some general guidelines and resources to help you determine whether you should file Form 1099-NEC or Form 1099-MISC. It will also address the new e-filing requirement that has been implemented for the upcoming filing season.

NEW E-FILING REQUIREMENT

Starting tax year 2023, businesses with a combination of ten or more information returns must file them electronically. This includes Forms W-2 e-filed with the Social Security Administration. Business taxpayers can file electronically any Form 1099 series information returns for free with the IRS Information Returns Intake System (IRIS). IRIS accepts 1099 series forms for tax year 2022 and after. It is available to any business of any size. It is secure and accurate and requires no special

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