New 1099 Rules:
- 1099-NEC (not a 1099-MISC) are now used to report independent contractor payments. You may need to remap the vendors to print properly.
- Several Coronavirus Aid, Relief, and Economic Security (CARES) Act tax provisions for small businesses will expire at the end of the year. Learn more
For more information on payroll law changes and topics for year end, Contact us today 702-372-0027.
Dates to remember:
- December 29, 2020 (by 5 PM PT): Last day to approve direct deposit payrolls for a 2020 pay date.
- January 27, 2021: E-file your W-2 forms with the Social Security Administration and your state. State lead times may vary.
- January 29, 2021 (by 9:00 PM PT): E-file your 1099-NEC so they can be processed and postmarked to your contractors by February 1, 2021.
- February 1, 2021: Last day to mail W-2 forms to employees, and last day to provide 1099-NEC to contractors.
Please feel free to contact us with your year end questions. Merry Christmas.