Form 1099-NEC reports Non-Employee Compensation. Generally, you’re required to file a Form 1099-NEC if you meet the following conditions:

You paid someone who’s not your employee

You paid for services in the course of your trade or business

You paid an individual, partnership or estate

You paid at least $600 to the payee during the year. Electronic payments such as payments by credit card are not required to be reported.

Form 1099-MISC reports the miscellaneous income you paid to individuals. Miscellaneous income includes but is not limited:

At least $10 in royalties or broker payments

At least $600 (cash payments only. You do not need to report payments made by credit card)

Rent

Prizes and awards

Other income payments

Payments to an attorney

Nonqualified compensation

Form 1099-NEC is due to both the IRS and to recipients on Jan 31

Form 1099-MISC is due Feb 28, if you file on paper, on March 31, if filing electronically. Statements to recipients are due on Jan 31.

There are no extensions for either form.