Weekly Tax Tip #1: The 1099 Threshold Is Now $2,000

Weekly Tax Tip #1: The 1099 Threshold Is Now $2,000

For payments made in 2026, you only need to send a 1099-NEC or 1099-MISC to a contractor you paid $2,000 or more during the year, up from $600. Payments made by card or through apps like PayPal are reported on a 1099-K instead, so they don’t go on your 1099-NEC....