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1099-NEC Guidelines: Everything Small Businesses Need to Know for 2025

1099-NEC guidelines

As a small business, filing informational returns like nonemployee compensation form, 1099-NEC can be confusing, especially if you are not too familiar with the reporting thresholds and complex IRS rules. This guide is here to help you understand everything your business needs to know about 1099-NEC guidelines.

What Is Form 1099-NEC? (And Why the IRS Brought It Back)

If your business has ever made payments of at least $600 to a nonemployee, like an independent contractor, freelancer, or gig worker, for their services, you are required to file 1099-NEC and report the payment to the IRS.

Form 1099-NEC is the official nonemployee compensation form. It was originally discontinued during the 1982 tax year and lumped into Form 1099-MISC Box 7.

It was reintroduced again in 2020 because of confusion with deadlines. Nonemployee compensation had a different deadline from the rest of the reporting requirements on 1099-MISC. This led to a lot of confusion and filing errors. The IRS system also struggled with different due dates for the same form, causing potential penalties even if the forms were filed on time.

So, to simplify nonemployee compensation reporting and reduce filing errors, the IRS reintroduced 1099-NEC.

1099-NEC Guidelines: Who Must File It?

1099-NEC filing requirements 2025 require you to report nonemployee compensation of $600 or more for services in one tax year. This applies to any business entity, including:

  • Small business owners
  • Landlords and property managers (when paying for services)
  • Nonprofits and trusts
  • Anyone hiring part-time or contract help
  • Sole proprietors, LLCs, and partnerships

Understanding What is Included and Excluded From Nonemployee Compensation

For small businesses, understanding what falls under nonemployee compensation is important in order to avoid penalties and potentially damaging IRS penalties.

As per IRS rules, all the compensations paid to non-employees are termed as non-employee compensations. It covers fees, commissions, prizes, awards, or any other compensation for services performed by someone outside your payroll.

Nonemployee compensation form reports the following payments totalling $600 or more in a tax year:

  • Payments for services from a nonemployee
  • Commissions, fees, or bonuses for services
  • Gig work like delivery or ride-share services
  • Legal services or consultant payments
  • Payments by a federal executive agency for vendor services
  • Compensation paid to a company’s board of directors
  • Commission paid to licensed lottery sales agents

Exclusions: What is not reported on 1099-NEC?

  • Payments that do NOT need to be reported on 1099-NEC include:
  • Payment to corporations except for legal or medical/healthcare services
  • Payments to tax-exempt organizations or governments
  • Expense reimbursements made under an accountable plan
  • Payments using third-party payment such as PayPal or credit cards (reported on Form 1099-K)
  • Employee wages (reported on Form W-2)

1099-NEC Filing Deadlines and Penalties (2025)

Filing Deadline for 1099-NEC for 2025TY

Filing Type Deadline
Recipient Copy Distribution January 31 (February 2 for 2025 TY)
Paper Filing
E-filing

Note: The 1099 NEC deadline for 2025 filing season falls on February 2, 2026. January 31 and February 1 falls on the weekend. According to the IRS, when a filing deadline falls on a weekend or a federal holiday, the deadline is extended to the next business day.

1099-NEC Late Filing Penalties for 2025

Timeline Penalties
Filed within 30 days $60 per form
31 days to Aug 1 $120 per form
Filed after Aug 1 $330 per form
Intentional Disregard $660 per form

Step-by-Step Guide on How to File Form 1099-NEC In Accordance with IRS Guidelines

  1. The first step is to get a completed W-9 from your nonemployee. W-9 forms contain their legal information such as name, address, and TIN. This information will be used when filing 1099-NEC.
  2. The next step is to aggregate all the payments to nonemployees for their services. If the total amount is above $600, you need to file a nonemployee compensation form as per 1099-NEC guidelines.
  3. Once steps 1 and 2 are done, it’s time to report the payments in the correct boxes.
    1. Box 1: Enter the total amount paid to a nonemployee for their services
    2. Box 2: Check this box for resales worth $5,000+
    3. Box 3: Report any excess golden parachute payments
    4. Box 4: Enter backup withholding amount (if applicable)
    5. Boxes 5–7: State information (if applicable)
  4. Before submitting your forms to the IRS, review the data using our real-time data checks. If there are any errors, our system will flag them before submission.
  5. Transmit your 1099-NEC forms directly to the IRS using our platform or schedule the submission for a later date.
  6. Distribute Copy B of 1099-NEC to nonemployees via Tax1099’s e-delivery portal. If you are filing for state agencies, our platform submits your forms directly to state agencies

Common 1099-NEC Filing Mistakes You Can Avoid Using Tax1099

Mistake 1: Filing after the Jan 31 filing deadline

The IRS expects 1099-NEC filing to be done on or before the given deadline. If you missed out on filing, your business could risk IRS scrutiny and possible penalties. With Tax1099, you get deadline reminders and real-time status tracking to ensure you never miss a deadline.

Mistake 2: Reporting payments under the wrong form or box

Reporting payments other than nonemployee compensation on 1099-NEC Box 1 like putting rental payments can cause compliance issues. Our platform guides you box-by-box and form-by-form so each payment is reported in the right place.

Mistake 3: Using 1099-NEC to report payments made through PayPal or Venmo

Payments made via third-party payment networks are reported on Form 1099-K, NOT 1099-NEC. When you e-file with Tax1099, we make sure the correct payment reports go in the appropriate forms.

Mistake 4: Using incorrect or unverified TINs

Incorrect or unverified TIN often leads to backup withholding. You can avoid it by validating TIN in real-time with our TIN match feature. It checks TIN and name combination with IRS records for accurate verification.

Real-Life Examples of 1099-NEC Reporting

1st Scenario: If your business hires a freelance photographer for a corporate photoshoot and you pay them $800, you need to file 1099-NEC since the payment amount is above the 1099-NEC filing requirements 2025.

2nd Scenario: If you paid an independent web developer $2,500 to update your company’s website, you still need to file form 1099-NEC for the service they performed.

3rd Scenario: Paying a contractor through a third-party platform does not require you to file a 1099-NEC. The platform becomes responsible for filing Form 1099-K and issuing it to the contractor.

4th Scenario: If your business pays $1,000 to an attorney for legal advice, you need to report the amount on Box 1, regardless of whether the attorney operates as a partnership or corporation.

5th Scenario: If a landscaping business pays a seasonal worker $700 for one week of yard cleanup, they need to file Form 1099-NEC for the $700 as nonemployee compensation.

Conclusion

It’s easy to feel lost in the filing process. But getting it right matters. The IRS is strict about business reporting nonemployee compensation, and if you miss out on filing your informational returns, they will come after you and your business.

But with the right guidance and e-filing partner like Tax1099, you can simplify your 1099-NEC filing process. Our platform automates form filing, performs real-time TIN matching, and gives you step-by-step support to make filing easier and more seamless.

FAQs

Q1: What’s the reporting threshold for 1099-NEC?

A: The reporting threshild for 1099-NEC as mandated by the IRS is $600 or more per year, per payee.

Q2: Can I submit 1099-NEC by paper?

A: Paper filing for 1099-NEC is required only if you are filing fewer than 10 informational returns.

Q3: What if I used a credit card to pay the contractor?

A: You do not file 1099-NEC for payments made through a card processor. These type of payments are reported by the card processor on different form called 1099-K.

Q4: How do I fix a mistake after submitting 1099-NEC to the IRS?

A: If you made a mistake on your 1099-NEC and you want to correct it, you can file a ‘Corrected’ 1099-NEC. This is done by filing the form with updated information, marking the form as ‘CORRECTED’, and sending it to the IRS as well as the contractor.

Q5: Do I need to file 1099-NEC state forms too?

A: If your state is not part of the IRS Combined Federal/State Filing Program or has its own filing requirements, you need to file a separate 1099-NEC and submit it to the appropriate state agency.