OBBA Updates for 2025: No Withholding Changes, But 1099 Rules Shift
OBBA leaves 2025 withholding tables unchanged but updates 1099 reporting rules now, with broader payroll and tax reporting changes coming in 2026.
1099-K Payment Card and Third Party Network
IRS form 1099-K is used to report payment transactions a payment settlement entity (PSE) processed for retailers.
Who Must File 1099 Forms in 2026: Helpful Complete Guide
Information returns like the 1099 form help the IRS match income recipients report with what payers report. If you pay independent contractors, landlords, attorneys, or others in the course of your trade or business, this guide explains who needs to file, which forms apply, deadlines, exceptions, and practical steps to stay compliant in 2026. What … Read more
Who Receives a Form 1099-K?
IRS Form 1099-K is used to report payments in settlement of reportable payment transactions each year. A payment in settlement of a reportable payment transaction is any payment card or third party network transaction. What’s new for Form 1099-K? The OBBA reversed the Form 1099-K changes implemented in the American Rescue Plan Act of 2021 … Read more
Prepare Form 1099-K for IRS Reporting
Before starting your Form 1099-K filing, it’s important to collect all the required information to prepare Form 1099-K. Form 1099-K is used to report payments in settlement of reportable payment transactions. What’s new for Form 1099-K? The OBBA reversed the Form 1099-K changes implemented in the American Rescue Plan Act of 2021 which reduced the … Read more
What is IRS Form 1099-K?
As with all IRS forms, IRS Form 1099-K is an important part of year end filing. This form type is used by payment settlement entities (PSEs) for certain types of payments made during the tax year. What is Form 1099-K? Form 1099-K, Payment Card and Third Party Network Transactions, is a form that reports payments … Read more
2024 IRS Updates for Forms 1099-K, 1099-DA, W-9, and Paper Filing (TY 2023)
For tax year 2023, there have been many notable IRS updates affecting Forms 1099-K, W-9, and the new 1099-DA, along with changes to electronic filing requirements. Key highlights include the postponed $600 threshold for 1099-K, revisions to W-9, the debut of 1099-DA for digital assets, and a lowered threshold for mandatory electronic filing. This article … Read more
Information Returns – Form 1099 Series, part 2
An Information Return is a tax form used to report to the federal government, non-payroll related payments made from a business, agency or person to another person or company. You also must furnish copies of the information returns to recipients for payments reported. Failure to file the information returns by specified due dates could result … Read more