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Emerging Issues and Insights

July 28, 2025

OBBBA Relaxes Reporting Thresholds for Forms 1099-MISC and 1099-NEC

An easily overlooked provision of OBBBA is the change in reporting thresholds for Form 1099-NEC (Nonemployee Compensation) and Form 1099-MISC (Miscellaneous Information). OBBBA introduces significant changes to the information reporting thresholds for these forms, seeking to ease the compliance burden on businesses.

Historically, many payments for services, rents and other miscellaneous items of income required reporting on Forms 1099-NEC and 1099-MISC, if the amount paid to a single recipient equaled or exceeded $600 for a calendar year. This relatively low threshold often led to a substantial volume of Forms 1099-NEC and Forms 1099-MISC that businesses needed to prepare, issue and file, particularly for those businesses that dealt with numerous independent contractors. OBBBA seeks to limit the scope of this process by raising the reporting threshold requirements, allowing many businesses to reduce the administrative time, effort and expense previously devoted to filing these forms. Specifically, for Form 1099-NEC and Form 1099-MISC, for payments made in 2026 OBBBA increases the reporting threshold from $600 to $2,000, indexing the threshold for inflation for payments made in calendar years after 2026.

Your Source for OBBBA Insights
This is our third update on OBBBA-related news since the legislation was signed into law earlier this month, and there will be more to follow in the coming weeks. Also, we will certainly be discussing OBBBA and its impact on flow-through entities at our fall and winter Tax Planning Forum and Fundamentals of Flow-Through Programs. Registration for all our virtual and in-person programs is open, and you may want to register now to take advantage of our early-bird discount that expires on July 31st.

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