Below, find complete details about IRS Form 1099-NEC, a document that is once again in use after being shelved since 1983. 

The Internal Revenue Service resurrected a form that hadn’t been used since the early 1980s, Form 1099-NEC, Nonemployee Compensation. For tax years 1983 through 2019, the IRS required businesses to file Form 1099-MISC for contract workers and freelancers. The revival of Form 1099-NEC is part of an effort mandated by Congress in the PATH Act of 2015 to require businesses to file information returns about any non-employee compensation by Jan. 31 of each year. However, there were problems with the IRS’s processing systems because there was still a March 31 due date for any Form 1099-MISC that didn’t contain non-employee compensation. Use of the “new” 1099-NEC, shown below, began with the filings reporting 2020 income.