1099-NEC Filing Requirements

Matthew Hague
October 18, 2021

Link to PDF

Above, there's a link to a PDF that will walk through how to complete a W9 form to help determine whether you may have a 1099-NEC filing requirement. This only applies to business owners.

The basic premise of the 1099-NEC is to track payments for Services (and not Goods) to self employed contractors and disregarded entities. A key tests are that the if the recipient is not a Corporation (C Corp or S Corp) and you didn't pay them via credit card, there is likely a filing requirement if payment exceeds $600 in a year.

Flowchart to help determine requirement

Flowchart to determine filing requirement.

If you have any questions on how the W9 works, or when it might be needed, feel free to reach out via the contact form.

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