IMPORTANT REMINDER
Please remember to complete the attached Post-Release Check List for the 5.5.2 CAMS-ii Year-End Release ASAP!
- Click here to view and print the 5.5.2 Post-Release Checklist.
IRS Form 1099-NEC
This year, the IRS released a new form for reporting Non-Employee Compensation, the 1099-NEC. Previously, this information was reported in Box 7 of the 1099-MISC form.
If your payees/vendors received non-employee compensation in 2020, and we are handling your electronic filing for 1099-MISC, then check 1099-NEC on page 2 of your CBS Service for IRS Electronic Filing Transmittal Sheet.
If you’ve already submitted your CBS Service for IRS Electronic Filing Transmittal Sheet, but you did not check 1099-NEC — but you have non-employee compensation to report — please email CBS Admin at cbsservices@camsbycbs.com. We will update the CBS Service for IRS Electronic Filing Transmittal Sheet for you.
If you have 1099-NECs, be sure to export the IRS Tax Data Files to CBS by no later than January 15th. Please see page 5 of the CBS Service for IRS Electronic Filing Transmittal Sheet for the exact steps.