In general, money sent to a lawyer or law firm triggers a Form 1099. Closeup of Form 1099-MISC, Miscellaneous Income. Yet what kind of payment it is matters. If a client is paying a bill ...

Opinions expressed by Forbes Contributors are their own. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-NEC, Nonemployee Compensation. The IRS has ...

WHAT'S NEW (or isn't) FOR 2023: - Beginning in 2022, the 1099-NEC was made so that ... new for 2020 and replaces the old Box 7 of Form 1099-MISC. “NEC” stands for “non-employee compensation”.

Californians who received a 1099-MISC related to their MCTR, shouldn’t have to worry about reporting the amount on their 2022 federal tax returns. However, if you’re a California resident and ...