08/23/2026
2026 brings important changes to 1099 reporting.
The Form 1099-NEC reporting threshold increases from $600 to $2,000 for nonemployee compensation, while Form 1099-K generally returns to the $20,000 and 200 transaction threshold for qualifying third-party payment activity.
Michigan businesses should also stay aware of state filing requirements.
Susan Helms Accounting can help you stay organized, compliant and ready for tax season.