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1099 NEC

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dcaiani

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Posts: 52

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Engaged Reader

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11/16/2020 4:25 PM

1099 NEC (non employee compensation) is new for 2020. Does anyone know the Lawson implications? We use FormFast to format our 1099s, checks, etc. Has anyone figured out what needs to be done to get it formatted correctly etc.?

Kidd Kasper

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Posts: 13

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12/1/2020 3:08 PM

Instead of reporting non-employee compensation on box 7 of the 1099-MISC, the IRS has revived the 1099-NEC. It is significantly difference from the 1099-MISC which will require changes to both FormFast as well as Lawson. Infor Extreme KB 2088932 is probably a good place to start for the Lawson changes. We use Document Express so I couldn't speak to the changes needed in FormFast.