# Form 1099-NEC

> Form 1099-NEC — 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.

Source: https://lopifi.com/glossary/form-1099-nec
Part of: Lopifi — US GAAP books on autopilot, reviewed by a CPA (https://lopifi.com)

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**What is 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.

## Words this system refuses for it

- 1099 unqualified
- payslip

- **Category:** Tax
- **Specified in:** [Lexicon](https://lopifi.com/md/docs/domain/11-lexicon)