The Form 1099-NEC, Nonemployee Compensation skill extracts data from Forms 1099-NEC, which are annual reports about payments carried out by a taxpayer to non-employees. This report is provided to both the US Internal Revenue Service (IRS) and each recipient of such payments. The taxpayer has to compile a separate report for each such non-employee receiving payments from the taxpayer of at least 600 USD during the reporting year.

The Form 1099-NEC, Nonemployee Compensation skill is a preview skill. It has been trained on a small document set and is intended to be used by citizen developers as a quick-start basis for processing Forms 1099-NEC. The skill may require further training on your specific documents in order to be used in production scenarios.

• Vantage document skills are extraction models, based on ABBYY's purpose-built AI, designed and trained to extract key data from business documents.
• Preview document skills provide a quick-start basis for conducting proof of concept and automating document-centric processes, without wasting time to train a new skill from the ground up. In most preview skills the main data fields have been labeled and the skill has been trained on a small document set to provide a starting point for further training on customer side. Preview skills generally come at no additional cost, but consume page volume from the base Vantage Core Skills volume.
• Includes validation and data normalization rules. Further business rules can be added as required.
• Can be augmented by human-in-the-loop review and verification based on accuracy thresholds, missing or incorrect information.
• Requires further training in order to ensure sufficient accuracy levels on customer-specific documents. Training can be done up-front or during runtime as documents arrive and go through manual verification.