Form 1099-NEC, Nonemployee Compensation
The Form 1099-NEC, Nonemployee Compensation is an Internal Revenue Service (IRS) form for reporting income payments made to non-employees such as independent contractors.
The Form 1099-NEC, Nonemployee Compensation skill has been trained on a smaller set of documents. The most important data fields are defined and labeled.
Customers can use this Framework as a starting point to label additional required fields, for further training based on incoming documents, or to adjust business rules to their own requirements.
- The model automatically detects all fields on 1099-NEC forms and extracts data including Year, Payer's Name Address Phone, Payer's TIN, Recipient's TIN, Recipient's Name, Recipient's Street Address, Recipient's City State ZIP Code, Account Number, etc.
- Business rules can be added as required, for example, to check the year for which the form was submitted, or to set a minimum threshold for income.
- Incorporate human-in-the-loop review and verification based on accuracy thresholds, missing or incorrect information.
- Start with the 1099-NEC framework skill and easily connect into your business processes.