bookkeeping software business tax Non-Profits tax preparation 
Nancy McClelland, LLC
DECEMBER 26, 2023
NEC” stands for “non-employee compensation”. It is due to recipients and the IRS by January 31st (or the first business day after that, if 1/31 falls on a weekend). Just because they have a business name doesn’t mean they’re incorporated. The IRS is now planning a phase-in of $5,000 for tax year 2024.
Nancy McClelland, LLC
DECEMBER 26, 2023
NEC” stands for “non-employee compensation”. It is due to recipients and the IRS by January 31st (or the first business day after that, if 1/31 falls on a weekend). Just because they have a business name doesn’t mean they’re incorporated. The IRS is now planning a phase-in of $5,000 for tax year 2024.
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