What does “1099 (Form 1099-NEC)” mean in bookkeeping?
1099 (Form 1099-NEC): The yearly form a business sends to each independent contractor it paid, reporting what they were paid. Only payments above an amount set by the IRS need one; the IRS updates that amount, so check its official page.
Official details: About Form 1099-NEC (IRS) (opens in a new tab)
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Written for US bookkeeping. Last reviewed November 5, 2026. See all 100 terms.