Form 1099-NEC
In accounting, form 1099-NEC means the IRS information return for nonemployee compensation paid to a contractor in the course of business — required at $600 a year for payments through 2025 and $2,000 from 2026 (indexed from 2027), due to the recipient and the IRS by 31 January.
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Authority
This definition follows IRS — About Form 1099-NEC.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
Form 1099-NEC, in use
Quoted from the 2 documents that use the word — what it does to an interface, in the spec's own sentence.
The Form 1099-NEC / 1099-MISC threshold is $600 for payments made through 2025 and $2,000 for payments made from 1 January 2026 (One Big Beautiful Bill Act, indexed for inflation from 2027) — the threshold is a dated table, not a constant.
Outside GAAP but on the same screens: from 2026 the Form 1099-NEC and 1099-MISC reporting threshold rises from $600 to $2,000 (One Big Beautiful Bill Act, July 2025), and under IFRS, IFRS 18 replaces IAS 1 for annual periods beginning on or after 1 January 2027.
US GAAP, and where these rules come from — Recent standards this system tracks
For founders
The same idea written for a founder: what it costs a startup that ignores it, and what to do in a real month.
- Form 1099-NEC for startups: threshold, deadline, e-filingWho gets a 1099-NEC, the new $2,000 threshold, why a W-9 comes first, what goes on a 1099-K instead, and the deadlines, penalties and state copies.
- First-year compliance calendar for a Delaware C-corpDelaware franchise tax, 1099s, the federal return, payroll filings, state annual reports and sales tax: the deadlines a young C-corp misses most, by month.
- Startup tax deadlines by month for a C-corpFederal tax deadlines for a calendar-year C-corp, month by month: W-2s, 1099s, Form 941, Form 1120, estimated taxes and Delaware franchise tax.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- 1099 unqualified
- payslip
Nearby in the catalog
No component names this concept outright. These are the ones in its part of the system, which is a weaker claim — but a component nothing links to is a component nobody finds.
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Family specAlso in Tax
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.