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How do I create 1099-NECs with Found?

How do I create 1099-NECs with Found?

If you have paid a contractor $600 or more in a calendar year you will need to send your contractor a 1099-NEC and file that form with the IRS. This form is due to the contractor and IRS by January 31.

Found automatically tracks payments that you make to contractors from your Found account, as well as any additional payments that you’ve recorded manually. To see your cumulative payments to each contractor, navigate to Contractor Management and find the 1099 payments report.

You can view draft 1099-NEC forms for all of your contractors—including any contractors who are missing W-9 information or haven’t been paid more than $600 in a year. Here’s how to view those forms:

On Mobile

  • Tap the Business Icon in the lower right of your Found App and select Contractor management from the list.

  • Tap the Contractor tax forms option to see a list of contractors that you’ve paid this tax year.

  • Tap any of these contractors to view their draft 1099-NEC.

On Desktop

  • Navigate to Contractor Management.

  • Click the Contractor tax form tab to see a list of contractors that you’ve paid this tax year.

  • Click any of these contractors to view their draft 1099-NEC.

Missing information? Tap the Request W-9 button to send your contractor a secure link to share their W-9 information, including name, business classification, TIN, and address, with you.

Get a step-by-step guide to the 1099-NEC form on our resource center.

When can I download 1099-NECs for my contractors?

1099-NECs for the previous year can be downloaded in January as PDFs, which you can then distribute to contractors through email, SMS, or other means. Keep in mind that it is your responsibility to distribute 1099s to your contractors who were paid $600 or more by January 31st of the following year.

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

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