KB Corner: IRS 1099-MISC and 1099-NEC Changes for Tax Year 2020

November 2020    Tags: 1099s, Accounts Payable, Resources, Trust Accounting

The IRS changed several requirements for 1099-MISC and 1099-NEC submissions for tax year 2020. Stay up-to-date on how these changes affect Tabs3 Software!

Knowledge Base Article R11856, “IRS 1099-MISC and 1099-NEC Changes for Tax Year 2020,” provides a brief overview of upcoming changes to IRS Forms 1099-MISC and 1099-NEC tax filing, as well as recommendations to help your firm prepare.

As a result of these IRS form changes, we will be making future changes to Tabs3 Trust Accounting and Tabs3 Accounts Payable in an upcoming release. Once these changes have been implemented, this Knowledge Base Article will be updated with more information.

We are also offering two webinars to learn more about 1099-MISC and 1099-NEC form changes. You can sign up for the following dates at https://register.gotowebinar.com/rt/8704973605526448655:

• Tuesday, December 8 from 11:00 am to 12:00 pm CST
• Thursday, January 7 from 2:00 pm to 3:00 pm CST

Our Knowledge Base can be accessed at support.Tabs3.com. You can also access our Knowledge Base while in the software by selecting Help | Internet Resources | Knowledge Base.