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The Big Beautiful Bill: Major 1099 Reporting Changes Explained (Plus an Update on the IRS FIRE System)
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Manage episode 489273137 series 3640407
In this solo episode, Jason Dinesen dives into the proposed 1099-related changes in the so-called Big Beautiful Bill. From raising the reporting threshold to resetting Form 1099-K rules, this episode covers what’s really in the legislation—and what it means for you.
Topics covered:
- Proposal to raise the $600 threshold to $2,000 starting in 2026
- Return of the 200 transaction / $20,000 rule for Form 1099-K
- New reporting form for auto loan interest
- The planned phase-out of the FIRE system by December 2026
- 1099 history trivia to impress your tax friends
Whether you're an accountant, AP professional, or just a 1099 nerd, this episode is packed with valuable insights.
📌 Note: These changes are proposed, not final—don’t update your systems just yet!
🎙️ Accounting in the Wild is sponsored by My-CPE. Get continuing education credit and access 15,000+ hours of content at my-cpe.com (with the hyphen!).
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