ROCK HILL, SC / ACCESSWIRE / December 15, 2020 / On November 18, 2020, the IRS updated Form 1099-MISC and released a new Form 1099-NEC for the 2020 tax year.
These new requirements change the way businesses report nonemployee compensation. Employers need to file Form 1099-MISC and Form 1099-NEC with the IRS and provide independent contractors and nonemployees with copies by February 01, 2020.
Previously, nonemployee compensation had to be reported on Form 1099-MISC. Form 1099-MISC is still a requirement for reporting miscellaneous payments but it no longer covers nonemployee compensation. Now, payments that would have been entered in box 7 of Form 1090-MISC should be reported using Form 1099-NEC.
ExpressEfile is a SPAN Enterprises product that supports Form 1099 MISC and is now offering the new Form 1099-NEC. This hands-on option allows employers to e-file easily and affordably. Users simply create an account and enter their information to meet their filing requirements in minutes. Businesses can catch mistakes with internal error checks and get support for any questions.
"Our e-filing solution is the best and most affordable option on the market," said Agie Sundaram, founder and CEO of SPAN Enterprises. "We're proud to have spent the last 10 years supporting employers and working with the IRS. We're here to keep businesses safe and make tax filing easy for everyone."
Employers can e-file Form 1099-NEC and 1099-MISC at ExpressEfile.com to meet their deadline.
About SPAN Enterprises:
Since 2009, SPAN Enterprises has served trucking industry professionals with innovative cloud-based software solutions including ExpressTruckTax, TruckLogics, and ExpressIFTA. Hundreds of thousands of truckers look to SPAN Enterprises for affordable prices and excellent customer support. Additional SPAN Enterprises products include TaxBandits, PayWow, ACAWise, 123PayStubs, ExpressExtension, ExpressEFile, and ExpressTaxExempt. These simplified tax and payroll products have revitalized the process of paying contractors and employees, staying ACA compliant, and e-filing business-related taxes. From their Rock Hill, SC office, SPAN Enterprises works every day toward a better future full of possibilities for every one of their clients. For more information about SPAN Enterprises, visit http://www.spanenterprises.com/.
CONTACT:
Gabrielle Girard | Marketing
support@Expressefile.com
SOURCE: SPAN Enterprises
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