# What's new for the 2026 Tax Season

[The One Big Beautiful Bill Act](https://www.congress.gov/bill/119th-congress/house-bill/1/text) introduced significant changes to Form 1099 tax reporting. This article summarizes the key changes and how they may affect you.
## 1099-NEC and 1099-MISC reporting threshold
In 2026, [The One Big Beautiful Bill Act](https://www.congress.gov/bill/119th-congress/house-bill/1/text) raised the federal reporting threshold for 1099-NEC and 1099-MISC forms from 600 USD to 2,000 USD.
The 1099-K federal reporting threshold remains greater than 20,000 USD in total gross volume and 200 transactions.
## Qualified tip reporting
Platforms can report qualified tips and associated occupation codes on behalf of their connected accounts. Reach out to your Platform who may be filing your Form 1099 to request a change or update to the qualified tips reported.
_This article is neither legal advice nor tax advice. We recommend that you speak to your tax advisor with any questions or concerns around tax reporting._