Daniel Doiron | Albin, Randall and Bennett

Form 1099-NEC & the IRS’s New Nonemployee Compensation Reporting Requirements

Beginning with 2020 information reporting, the IRS is reintroducing Form 1099-NEC, a form that was previously used until the early 80’s for reporting nonemployee compensation. The IRS hopes the form will help avoid fraudulent reporting, deadline confusion, and filing errors. In addition to new filing requirements, Form 1099-NEC has resulted in a redesigned Form 1099-MISC. 


2020 Tax Planning for Private Wealth, Closely Held Businesses, & Related Ventures

Tax planning for year-end 2020 will occur under very unique circumstances. COVID-19 has had an economic impact on all walks of life and industry sectors, including private wealth and family-owned and closely-held businesses. Coupled with the uncertainty of what might happen in the upcoming national elections, tax planning presents significant challenges at this time. There’s