What’s new for 1099 tax forms in 2022

There are a few notable changes for 2022 tax reporting:

Updates to Form 1099-K:

Filing Thresholds:

The 1099-K filing threshold is $20,000 USD in total gross volume and 200 transactions.*

*On December 23rd, the IRS announced that the 1099-K filing threshold will remain at $20,000 USD and 200 transactions for tax year 2022.

 Updates to Form 1099-MISC:

Updates to Form 1099-NEC:

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.