--- title: Not Your Father's Accountant Blog | 1099-Misc description: 1099-Misc | Business Insights For The Modern Business Owner from the good folks at Milam, Knecht & Warner. --- ### [![not your fathers accountant blog](https://www.weaddvalue.com/hs-fs/images/not-your-fathers-accountant-blog.jpg)](https://www.weaddvalue.com/blog/) # [2020 - 1099 Forms: What You Need to Know](https://www.weaddvalue.com/blog/awardyearendbonusestherightway-0) Posted by [George Chahinian](https://www.weaddvalue.com/blog/author/george-chahinian) on January 26, 2021 - [Tweet](https://twitter.com/share) [![](https://www.weaddvalue.com/hubfs/1099%20Form.jpg) ](https://www.weaddvalue.com/blog/awardyearendbonusestherightway-0) **Did you know that there have been changes to the 1099 Forms** starting in 2020? Fortunately, these are changes that shouldn’t be difficult to deal with. Starting for the 2020 filing year, the IRS has introduced the 1099-NEC Form, which is to be used to report Non-Employee compensation, previously recorded on line 7 of the 1099-MISC Form. Currently, the definition of non-employee compensation refers to payments to individuals not on payroll, but rather on a contract basis to complete a project or assignment. [Read More](https://www.weaddvalue.com/blog/awardyearendbonusestherightway-0) 0 Comments [Click here to read/write comments](https://www.weaddvalue.com/blog/awardyearendbonusestherightway-0#comments-listing) Tags: [Employment Tax](https://www.weaddvalue.com/blog/topic/employment-tax), [1099-Misc](https://www.weaddvalue.com/blog/topic/1099-misc), [1099](https://www.weaddvalue.com/blog/topic/1099), [Taxes](https://www.weaddvalue.com/blog/topic/taxes), [1099-NEC](https://www.weaddvalue.com/blog/topic/1099-nec), [IRS Form](https://www.weaddvalue.com/blog/topic/irs-form), [2020 IRS Form 1099](https://www.weaddvalue.com/blog/topic/2020-irs-form-1099) [All posts](https://www.weaddvalue.com/blog/all) ## Get The Latest! Sign up for our monthly newsletter for business owners. ## Lower Your Business Taxes Register today for a *Free* **Business Tax Diagnostic **from MKW. Minimize your taxes & free up cash to reinvest in your business.    [![Register Today](https://no-cache.hubspot.com/cta/default/188908/112b3553-5f0f-4ef0-9995-44e6c67ab59d.png)](http://cta-redirect.hubspot.com/cta/redirect/188908/112b3553-5f0f-4ef0-9995-44e6c67ab59d)