Well, 1099 taxes for independent contractors have gotten a bit more complicated in That's because the IRS has implemented a new Form 1099NEC for businesses to report their nonemployee compensation (NEC) payments to service providers, but the IRS continues to use a revised Form 1099MISC for most other paymentsIt's another story for freelancers and independent contractors who have their income reported on Forms 1099 If you are earning Form 1099 income you need to know your income tax bracket because you do not have the benefit of employer withholding and must send estimated tax payments to the IRS each quarter If you pay too little in estimated taxes the IRS may subject you toFor that year, you need to File a 1099 MISC Tax Form for your recipient who takes payment from you for their service An
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