The form clients use to report payments of $600+ to independent contractors.
Form 1099-NEC reports nonemployee compensation—payments of $600 or more made to independent contractors, freelancers, and self-employed individuals. Clients must send this form by January 31. Even if you don't receive a 1099-NEC, you must report all self-employment income.
You must still report all income, even without a 1099. Clients only issue 1099s for payments of $600+, but all income is taxable regardless of amount.
Yes, if you pay any contractor $600 or more in a calendar year, you must issue them a 1099-NEC by January 31.
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