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:

Per User, per calendar year:

 Updates to Form 1099-MISC:

Updates to Form 1099-NEC:

Changes for the 2022 tax year

Beginning January 1, 2022, the threshold for reporting amounts on Form 1099-K will drop to $600 (from $20K and 200 transactions). Note this does not impact 2021 tax reporting that was available to you in January 2022.

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.