Regulatory Analysis
The IRS added a new webpage explaining that 1099-DA will be excluded from the Combined Federal/State Filing Program for Tax Year 2025. The IRS previously announced this in various other communications, like IRIS working group meetings. The IRS explicitly notes: filers are responsible for meeting state 1099-DA reporting obligations outside of the CF/SF program. See […]
The IRS updated the 2025 Instructions for Form 1099-DA to include a new section, “De minimis rules for certain sales.” The new section provides information on de minimis reporting rules for PDAP (Processor of digital asset payment) sales and optional reporting methods. These rules are not new; the previous version of the instructions omitted them. […]
The New Mexico Taxation and Revenue Department has released new Form TRD-41431 (Workers’ Compensation Fee Return and Employees’ Quarterly Wage and Withholding Report). Effective for reporting periods beginning January 1, 2026, all taxpayers who withhold New Mexico tax from wages, pensions, and annuities are required to file Form TRD-41431. Previously, only employers with more than […]
The Canada Revenue Agency (CRA) has released the 2025 edition of Guide T4061(E), NR4 – Non-Resident Tax Withholding, Remitting, and Reporting. The primary change for tax year 2025 is the launch of the Non-Resident Withholding Tax online portal services. In October 2025, the CRA expanded its secure portal services to include online access to non-resident […]
The New Mexico Taxation and Revenue Department has released FYI-330, updating guidance on income and withholding information returns and filing methods. Beginning January 1, 2026, all employers must submit annual income and withholding statements (Forms W-2, W-2G, and 1099-R) electronically, regardless of employee count. Filers should note that the Department no longer requires notification that a […]
The IRS has updated Form 8809, used to request filing extensions for information returns including Forms W-2, 1099, 1042-S, and 1095. The most notable update is the addition of the Information Return Intake System (IRIS) as a filing option for automatic 30-day extensions. IRIS will fully replace the FIRE system in January 2027. The IRS […]
The IRS has released Publication 4163 (Rev. 12-2025) for Modernized e-File (MeF) business returns processed in 2026. This publication outlines electronic filing requirements and guidance for returns filed through the IRS Modernized e-File (MeF) platform. There were several key changes in this recent update to the publication, which include the following: Puerto Rico form discontinuation: […]
The Hawaii Department of Taxation has released the 2026 edition of Booklet A, Employer’s Tax Guide, with income tax withholding rates, methods, and tax tables effective as of December 5, 2025 for withholding on wages paid January 1, 2026 and thereafter. Effective January 1, 2026, Hawaii will adopt the 10 or more electronic filing threshold […]
Revenu Québec has released the 2025 Guide to Filing the RL-1 Slip (RL-1.G-V) for reporting employment and other income. The guide covers tax year 2025 and accounts for legislative changes through October 31, 2025. The most significant changes for 2025 relate to security option reporting following the federal announcement deferring the increase to the capital […]
Revenu Québec has released the 2025 Guide to Filing the RL-3 Slip (RL-3.G-V), which reports investment income including dividends, interest, and royalties from Canadian sources. The guide is valid for the 2025 taxation year and subsequent years. The most significant change is the removal of supplementary information codes I-1 and I-2, which were used to […]
The Treasury Department and IRS have released Notice 2025-68, announcing upcoming regulations and providing guidance on Trump Accounts, a new type of individual retirement account (IRA) for eligible children established under the One, Big, Beautiful Bill Act (OBBBA). The notice addresses key information reporting requirements for trustees and employers, and requests comments on withholding and […]
The Internal Revenue Service has released the 2026 Form W-4, Employee’s Withholding Certificate. The 2026 form incorporates significant changes reflecting tax law updates, including deductions for tips, overtime compensation, and passenger vehicle loan interest, as well as substantially increased state and local tax (“SALT”) deduction caps. The child tax credit amount for qualifying children under […]
Kansas re-released its K-99CSV specifications with a 1099-DA format, making it the first state to post custom 1099-DA (digital asset transactions) electronic filing specifications for tax year 2025 reporting. Kansas requires brokers to file Form 1099‑DA if the form reports Kansas income tax withholding or is required to be filed with the IRS. Kansas generally […]
Maine Revenue Services has finalized its electronic file specifications for tax year 2025 Forms 1099 and W-2G information returns. MRS expects to conform with the IRS transition to the Information Return Intake System (IRIS) XML format for Form 1099s beginning with forms issued for tax year 2026, due in 2027. This change aligns with the […]
The Ohio Department of Taxation has released updated electronic filing specifications for tax year 2025 covering Forms 1099-R, 1099-NEC, and 1099-MISC. All specifications follow the IRS Publication 1220 layout and share a February 2, 2026 filing deadline. The specifications include changes to the reporting thresholds for Forms 1099-NEC and 1099-MISC. Ohio now only requires reporting […]
Effective January 1, 2026, House Bill 218 introduces four changes to New Mexico withholding tax reporting: Quarterly Reporting Expansion. All employers and payers must file quarterly returns reporting employee and payee compensation and New Mexico income tax withheld. Previously, this requirement applied only to employers with more than 50 employees who did not file unemployment […]
The Arkansas Department of Finance and Administration has released electronic file specifications for tax year 2025 W-2 and 1099 information returns. Notably, the mandatory electronic filing threshold for W-2s decreased from 125 employees to 75 employees starting with tax year 2025 reporting. The due date for electronically filing 2025 W-2 information shifted from January 31, […]
The IRS released Notice 2025-62 on November 5, 2025, providing penalty relief for tax year 2025 regarding new information reporting requirements under the One, Big, Beautiful Bill Act (OBBBA). While OBBBA created income tax deductions for qualified tips and qualified overtime compensation and requires separate reporting of these amounts on Forms W-2, 1099-MISC, 1099-NEC, and […]