The IRS 1099 form 2017 is different from the current version of the 1099-MISC. IRS tax forms can be variable from year to year. While the changes are not always big, you should be aware of what is different to ensure sure you complete the forms correctly. 1099 forms have seen some changes over the past few years, and the 2020 1099 looks different than past versions. The below guide is designed to explain those changes and help you stay on top of your 1099s. That said, remember that using a software tool, like AMS, means you don’t have to constantly check the IRS website for updates.
IRS 1099 Form 2017 to 2020 Filing Requirements Over Time
The reintroduction of the 1099-NEC is the biggest change between the IRS 1099 form 2017 and the 2020 version. You can read more about the 1099-NEC here. Up until 2020, businesses used a 1099-MISC to report all miscellaneous and non-employee compensation. However, as of 2020, the IRS now requires businesses to report non-employee compensation using the 1099-NEC.
The 1099-NEC brought some small, structural changes to the format of the 1099-MISC to account for the absence of the non-employee compensation category. You can see the difference by comparing the IRS 1099 form 2017 and the 2020 1099. However, not much else has changed with 1099 reporting in general.
The 1096 form is another document that mirror the 1099 change. The 1096 form has changed slightly over the past few years – a result of both the 1099-NEC addition and a few other forms. There are an additional four subcategories of forms that necessitate a 1096 if filing manually. The 1099-NEC is one of these added subcategories.
Since the IRS does alter the forms occasionally, businesses should stay on top of updates. One easy way to do this is to invest in a filing software.
How Filing Software Keeps You Up To Date
A 1099/W2 tax software like ours is a fantastic tool for those struggling to meet their small business filing requirements. Users can customize the software to suit their needs by adding modules. These periphery tools allow users to generate forms and file those forms electronically – along with other features.
If you are looking to stay on top of tax deadlines and stop purchasing paper tax forms, our software options serve both those goals. Our 1099/W2 program, as well as AMS Payroll and our Forms Filer Pus, provides forms from the current tax year when you are ready to complete them. This way, you do not have to wait for the IRS to send documents or search for the forms in a store.
Many appreciate the convenience of an online tax software like ours. The ease of data input leads to fewer errors. You can input data in a spreadsheet format or visualize the information within the context of a generated 1099 form on your screen. Then, when you complete the forms, simply print.
We understand you may want to try the software before you buy it. You can access a free software demo to see how our system can work for you. If you have more specific questions, give our Sales and Information team a call at (800) 536-1099.