Draft 1099-NEC for 2026: New Boxes for Tips, Overtime, and Golden Parachute Payments

April 15, 2026April 15, 2026 by Ken Ham

IRS Draft Form 1099-NEC (Rev. December 2026) showing new boxes 1a through 1d for nonemployee compensation, cash tips, TTOC, and overtime, plus new Box 3 for excess golden parachute payments

The IRS has released a draft Form 1099-NEC for tax year 2026 with major changes. Box 1 splits into four sub-boxes to separately report cash tips, overtime compensation, and Treasury Tipped Occupation Codes. A new Box 3 captures excess golden parachute payments. Here is everything filers need to know.

1099-NEC Corrections: A Payer Guide to Fixing Filing Errors

April 13, 2026December 30, 2025 by Ryan Casarez

If you paid independent contractors or other nonemployees, you likely filed Form 1099-NEC. Mistakes happen: names get misspelled, TINs are mistyped, or amounts land in the wrong box. This guide explains when a 1099-NEC correction is required, how to fix the error (electronically or on paper), and how to avoid penalties. What is Form 1099-NEC … Read more

IRS Form 1099-NEC Guide for 2026 (TY2025)

April 8, 2026December 9, 2025 by Michaela Porterfield

Learn who must receive Form 1099-NEC, what’s new for 2026, e-filing thresholds, and key filing details to help submit accurate returns on time.

When to file 1099-NEC? – Key IRS Deadlines 2026

October 31, 2025 by Ryan Casarez

If you pay independent contractors, freelancers, or other nonemployees for services, you may need to file Form 1099-NEC. This guide explains who must file, the exact due dates for 2026, how to file correctly, and what to do if you need more time. What is Form 1099-NEC? Form 1099-NEC reports nonemployee compensation. This is generally, … Read more

2025 1099 Form Changes: New Codes, Boxes, and Updated Rules

December 10, 2025July 24, 2025 by Ryan Casarez

Understanding the latest 2025 1099 form changes to federal tax reporting forms and their impact on your filing obligations Introduction Tax season preparations require staying current with Internal Revenue Service modifications to reporting requirements. For the 2025 tax year, several important changes affect the 1099 form series, which businesses and organizations use to report various … Read more

1099-MISC vs 1099-NEC: The Comprehensive Comparison Guide

December 9, 2025October 10, 2024 by Michaela Porterfield

1099-MISC vs 1099-NEC - Image of person typing on laptop

Understanding the differences between the two forms, 1099-MISC vs 1099-NEC, is essential for correctly reporting various types of payments. We’re here to outline the differences and give you the information you need to determine which forms to file. 1099-MISC vs 1099-NEC: What’s New? The IRS made a couple updates to these forms for Tax Year … Read more

Prepare Form 1099-NEC for IRS Reporting

December 9, 2025September 12, 2024 by Ken Ham

Working beside laptop - Prepare Form 1099-NEC

Once you are ready to begin your tax filing, you must gather the required information to prepare Form 1099-NEC. This includes information for the business, or payer, and recipient, or payee, as well as the amounts paid to the recipient. Form 1099-NEC is used to report nonemployee compensation amounts to the IRS. A nonemployee is … Read more

Avoid These Common Errors for Form 1099-NEC

December 9, 2025June 28, 2024 by Ken Ham

broken ceramics - Common Errors for Form 1099-NEC

Preparing Forms 1099-NEC can be difficult, but we are here to help simplify things! We have compiled this list to help ensure that you don’t make these common errors for Form 1099-NEC. A Brief History of Form 1099-NEC To reduce errors for Form 1099-NEC, it is important to know what this form is and how it … Read more

Who Receives Form 1099-NEC? A Comprehensive Guide

December 9, 2025June 27, 2024 by Ken Ham

Form 1099-NEC is used to report nonemployee compensation paid to individuals or businesses that are not your employees. This includes independent contractors, freelancers, service providers, and outsourcing companies. The form reports payments made for services performed in the course of your trade or business. If you need to report wages or other compensation paid to … Read more

Mastering Form 1099-NEC: The Essential Guide

May 1, 2026June 6, 2024 by Michaela Porterfield

Form 1099-NEC Guide - Image of desk with laptop, notebook, glasses, and pen

Form 1099-NEC is used to report non-employee compensation amounts to the IRS. A non-employee is defined as a person or business who is not employed by your company, such as independent contractors, freelancers, or outsourcing companies. Learn more about determining who should receive a Form 1099-NEC by navigating to our article “Who receives a Form … Read more

1099 E-File: Early Sneak Preview of the IRS IRIS System

August 15, 2024December 14, 2022 by Ken Ham

close up of iris. a way to symbolize the IRS iris system

On December 12, 2022, the IRS released early system specifications for the latest version of the Information Return Intake System, or IRIS, which is its e-file system for 1099 e-file information returns. This online system was made so that end users can e-file 1099 returns for free using a standard CSV file format or an … Read more

Who Receives Form 1099-NEC? – TY 2021

May 18, 2023April 13, 2021 by Ken Ham

An individual who is a nonemployee, or an independent contractor, receives Form 1099-NEC. A non-employee is defined as a person or business who is not employed by your company, such as independent contractors, freelancers, or outsourcing companies. The IRS instructs that a Form 1099-NEC, Nonemployee Compensation, must be completed each person who, in the previous … Read more

Avoid These Common Errors Form 1099-NEC – TY 2021

May 18, 2023April 13, 2021 by Ken Ham

There are many common errors Form 1099-NEC, so we have compiled this list to help ensure that you don’t make them. So, you have already: Then, it sounds like you are ready to complete and file your 1099-NEC forms. However, before you press that print or e-file button, take a moment to review your information … Read more

Common Errors for Form 1099-NEC – TY2020

May 18, 2023December 11, 2020 by Ken Ham

There are many common errors for completing forms 1099-NEC preparation. We know preparing Forms 1099-NEC can be difficult, but we are here to help simplify things! So, you have already: Then, it sounds like you are ready to complete and file your 1099-NEC forms. However, before you press that print or e-file button, take a … Read more

Form 1099-NEC: Who Should Receive a Form?

May 18, 2023December 11, 2020 by Ken Ham

Form 1099-NEC is used specifically to report payments to non-employees. A non-employee is defined as a person or business who is not employed by your company, such as independent contractors, freelancers, or outsourcing companies.