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HARRY W. AND OLIVE E. HARDER MEMORIAL FUND SCHOLARSHIP APPLICATIONApplications are due January 31, 2021 4:00pm est SUBMIT COMPLETED APPLICATIONS TO: By Mail: Shiawassee Community Foundation Post Office
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Harry W-2 and Form 1099-NEC are tax forms used in the United States. The W-2 form is used by employers to report wages paid to employees and the taxes withheld from them. The 1099-NEC form is used to report non-employee compensation, typically for independent contractors and freelancers.
Employers are required to file Form W-2 for each employee they pay who earns at least $600 in a calendar year. Businesses that pay independent contractors and freelancers $600 or more in a year are required to file Form 1099-NEC.
To fill out Form W-2, employers need to provide information about the employee's wages, benefits, and taxes withheld. For Form 1099-NEC, the payer needs to enter details about the payment made to the contractor, including their name, address, and the amount paid.
The purpose of Form W-2 is to report an employee's annual wages and the taxes withheld from their paycheck to the IRS and the employee. Form 1099-NEC is used to report payments made to non-employees for services rendered, ensuring accurate reporting of income for tax purposes.
Form W-2 must report an employee's total wages, tips, and other compensation, Social Security earnings, Medicare earnings, and federal and state taxes withheld. Form 1099-NEC must include information about the payer and payee, along with the total amount paid for services.
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