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I was sent a 1099 form, what do I do with it?

I was sent a 1099 form, what do I do with it?

If you earned $600 or more in non-employee compensation in a given year, you should receive a 1099-NEC form no later than January 31st of the following year. This form is a record of the non-employee compensation (NEC) that you received from a business or individual that contracted your services.

If that business or individual is using Found, you may receive that 1099 as a PDF generated from Found. This gives you all of the information you need to report this income on your taxes.

How do I file my 1099-NEC?

Found doesn’t file taxes, but it does provide you with the information and resources necessary to make tax preparation easy. If you’ve received one or more 1099s, you have a few options for how to file those with your taxes.

What if my 1099 is incorrect?

If your 1099 is missing payments or has incorrect information on it, reach out to the individual who sent it as soon as possible. They can update any payments or other information in Found and create a new, corrected 1099 for you.

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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