The IRS has released the latest updates to Publication 1220 for Tax Year 2025, which governs the electronic filing of information returns. Several significant changes affect how filers should prepare for the next two filing seasons and transition toward the Information Returns Intake System (IRIS). Below is a clear breakdown of what has changed and … Read more
The IRS has confirmed that federal income tax withholding tables and core payroll forms will not change for the 2025 tax year. But that doesn’t mean OBBA leaves 2025 untouched. The One Big Beautiful Bill Act (OBBA) includes important information reporting changes, particularly for certain 1099 forms, that apply right now. Even bigger shifts are … Read more
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