Preparing for 2021 Payroll Tax Changes and the New Form 1099-NEC
As 2020 comes to a close, Entertainment Partners wants to help you with wrapping up your 2020 payroll tax forms, and that means checking them twice! What do you need to know before filing? Brand-new for the 2020 tax year, the IRS has implemented the a new form to report non-employee compensation, Form 1099-NEC, to be filed in addition to Form 1099-MISC.
Join Entertainment Partners' experts Becky Harshberger, VP of Payroll Tax, and Neddy Alonso, Senior Manager of Product Support Operations, for a conversation introducing the new 1099-NEC, a review of the 1099-MISC, and key dates for each including when they are due to recipients, and when they are due to the IRS and state tax agencies. They will also demonstrate how SmartAccounting has been updated to ensure EP clients report vendor information accurately and on the correct form, as well as highlight some best practices for a smooth transition to the new form! (Runtime: 35 min)