The IRS has made significant changes as to how non-employee compensation must be reported. In the past, compensation of $600 or more paid to non-employees for services in the course of a trade or business was reported on the Form 1099-MISC. But, compensation of $600 or more paid to non-employees in 2020 and subsequent years is now required to be reported on the Form 1099-NEC. All organizations — including government agencies — that hire independent contractors should take note of this change because it affects how compensation is reported. READ MORE