For decades, the $600 threshold has been the standard for issuing 1099 forms. If you paid a contractor or vendor $600 or more in a year, a Form 1099-NEC or 1099-MISC was required. That is changing. Under the One Big Beautiful Bill Act (OBBBA), signed into law in 2025,...
This Fact Sheet provides answers to frequently asked questions (FAQs) about the new deduction for qualified overtime compensation, such as who may be eligible to claim the deduction, including federal employees, and where to find supplemental information on...
WASHINGTON — The Department of the Treasury and the Internal Revenue Service issued Notice 2026-05 PDF providing guidance on new tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill. These changes expand HSA eligibility, which allows...