July 29, 2025
Inside OBBBA: 1099-NEC and 1099-MISC Thresholds Set to Rise Under OBBBA
In a move that will likely lighten the compliance load for many businesses, OBBBA includes an easily overlooked—provision and a long-awaited increase in the reporting thresholds for IRS Forms 1099-NEC and 1099-MISC. From $600 to $2,000: A Meaningful Shift Historically, businesses have been required to issue Form 1099-NEC for nonemployee compensation (like payments to independent…