Benefits
Maximize the ability to comply with 2020 IRS filing regulations.
Details
Now you have the ability to file the 1099-NEC form. The purpose of the 1099-NEC form is to replace 1099-MISC box 7 altogether as a new form for reporting nonemployee compensation.
Also, there are now 2020 versions of the 1099-MISC and 1099-INT standard forms.
How to run the new 1099-NEC report
Go to ACP > Account Processing > Print 1099 Forms
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Click OK again. |
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Select Standard Forms. |
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Select standard report option 31. |
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The printed form should look like this. |
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Electronic Reporting
Go to ACP > Account Processing > 1099 Electronic Reporting |
On the far right, you will see two new columns under 1099 NEC. |
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Click Next. To include new 1099-NEC data in Electronic file, select 1099 Type option 3 or 4. |
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