Yes, employers who withhold payroll taxes issue Form W-2 to employees. Now, the IRS has introduced the Form 1099-NEC just for reporting independent contractor income (officially known as “non-employee compensation”). So if you work with contractors and your business paid those contractors more than $600 each in a tax year, you’re required to file Form 1099-NEC.
As An Employer Withholding Payroll Taxes, Do I Need to Issue W-2 Forms to My Employees?
Frequently Asked Questions - Business Taxes
Are Employers Required To Report The Information That Employees Claim On Their Form W-4 To The Irs?
Can I Deduct My Home Office On My Business Tax Return?
How Do I Choose The Right Accounting Software For My Business?
Do I Have to File Taxes If My Business Made No Money?
Do I Need To Make Quarterly Estimated Tax Payments?
Need An Employer Identification Number (EIN)?
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