If you paid another non-incorporated business $600 or more for services during calendar 2022, you generally will need to file form 1099-NEC for those payments. Payments made via third-party providers such as credit cards, debit cards, Venmo, PayPal, etc. do NOT count toward the 1099-NEC filing requirement.

This is different than the 200 transaction / $20,000 limits for 1099-K reporting by those third party providers (which changes to $600 for 2023 reporting).

If you paid another non-incorporated business $600 or more for services during calendar 2022, you generally will need to file form 1099-NEC for those payments.

IRS penalties for not filing required 1099-NEC forms on time can reach hundreds of dollars PER FORM depending on the amount of the 1099-NEC and how late the form was filed!