Important 1099 changes in Sage 100 for 2020 tax filings
The Department of Treasury recently changed the 1099 filing process for Non-Employee Compensation. For 2020, all amounts previously reported in BOX 7 of Form 1099-MISC are now required to be reported on an entirely new Form 1099-NEC (Non-Employee Compensation).
To prepare for this important change, Sage 100 customers must apply an update to their Sage 100 system. Then any relevant data needs to be updated for existing 1099 vendors and 1099 transactions.
We held a webinar for our Sage 100 customers to review the 1099 filing process. Please contact us if you need assistance updating your environment and your vendor/transaction data to be compliant with the new 1099 NEC requirements.
Watch the Webinar Replay