News and updates
Less 1099 paperwork: the filing threshold rose to $2,000 for 2026
For payments made in 2026, the threshold for filing Form 1099-NEC or 1099-MISC rose from $600 to $2,000 per payee for the year.
If your business pays contractors, musicians, day laborers or others for their work, here is some good news for your year end paperwork. For payments made in 2026, the threshold for filing Form 1099-NEC or 1099-MISC rose from $600 to $2,000 per payee for the year.
The amount will be adjusted for inflation in later years. Keep your contractor tax forms on file as usual, and check with your tax professional on how the change applies to your business.
Questions about your books or recordkeeping? Call HUB 712 at 712-775-3687 and we will point you to the right person.
North Central Iowa Small Business Development Center