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^ 1U i. I Am. T f SU i T U FIVE s : EXECUTIVE C A N D ID A T ES PAGES 45Auckland University College Student PaperintaVoL X × × N o. Auckland, N.Z., Thursday, 26th July, 1956.8Price 3dlivesomeFicerPREELECTIO

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1 ive u iiia stands for Form 1099-NEC, used to report nonemployee compensation.

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Businesses or individuals who pay nonemployee compensation of $600 or more during the tax year are required to file Form 1099-NEC.

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The purpose of Form 1099-NEC is to report nonemployee compensation to the IRS and the recipient, so they can report it on their tax returns.

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Form 1099-NEC requires reporting the recipient's name, address, Social Security number, payment amount, and any federal income tax withheld.

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