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Get your taxes done using TurboTax
You don't have to be an owner to file Schedule C and pay self-employment tax. If the company that you work with doesn't want to treat you as an employee (many with the goal of saving employment tax and employee benefits), it issues you a 1099-NEC, which is non-employee compensation. The IRS wants someone to pay the Social Security tax and Medicare tax.
You should have filed Schedule C on your 2020 return. You need to file Schedule C on your 2021 return to avoid receiving any notice from the IRS.
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March 23, 2022
6:32 PM