1099 Changes and Best Practices

Overview

This program addresses Form W-9 and the TIN solicitation and back-up withholding rules; discusses the 2025 filing requirements for the tax information reporting Forms 1099-NEC and -MISC; as well as recent legislation amending the Form 1099-K reporting threshold for 2025 and changing Form 1099-NEC and Form 1099-MISC reporting thresholds for 2026; and reviews mandatory electronic filing of Forms 1099 and the three IRS e-filing systems available for 2025 tax information returns.  The presentation also includes a brief overview of the reporting and withholding rules for payments of U.S. source income made to non-U.S. persons, and current guidance on the reporting rules for purchases of software and cloud transactions.

Prerequisites

None

Objectives

• Understand the IRS’s TIN solicitation, and backup withholding and reporting
  

  requirements, for Form 1099 reportable payments</li>
  

Highlights

• Electronic filing requirement of Forms 1099 for 2025
• Form 1099-NEC, 1099-MISC and 1099-K information reporting for 2025
• Changes to 1099-NEC and some 1099-MISC reporting thresholds for 2026
• Form W-9 TIN solicitation and backup withholding rules
• Reporting rules for purchases of software and cloud transactions
• Brief overview of reporting and withholding requirements for payments of U.S.
  

  source income made to non-U.S. persons</li>