The IRS has released its revised Publication 1099 (General Instructions for Certain Information Returns). This publication provides comprehensive guidance for filing Forms 1096, 1097, 1098, 1099, 3921, 3922, 5498, and W-2G with the IRS and furnishing statements to recipients.
Most notably, the IRS has retired the Filing Information Returns Electronically (FIRE) system. Beginning tax year 2026, the Information Returns Intake System (IRIS) will be the only intake system for information returns, including for the Combined Federal/State Filing Program (CF/SF). Filers are encouraged to complete their IRIS application for a Transmitter Control Code (TCC) and begin transitioning ahead of the 2027 filing season, noting that TCC applications are typically processed within 45 business days.
The publication also reflects a significant increase in the minimum reporting threshold for certain payments, which rose from $600 to $2,000 for tax years beginning after 2025, with inflation adjustments beginning in calendar year 2027. This change affects several forms, including Forms 1099-MISC, 1099-NEC, 1099-G, 1099-INT, W-2G, and partially Form 1099-DIV. Filers are directed to review the IRS Inflation Adjustments for current-year threshold amounts.
Several new forms have been introduced. Form 1098-VLI (Vehicle Loan Interest Statement) requires lenders receiving $600 or more of specified passenger vehicle loan interest to file with the IRS. Form 1099-LPS (Long-Term Care Premiums Paid Statement) and Form 5498-TA (Trump Account Contribution Information) are projected for mid-2026 release.
A number of existing forms have also been revised, including separated address fields across 2026-revised forms, new reporting fields for cash tips, overtime compensation, and digital asset transactions on Forms 1099-MISC, 1099-NEC, 1099-K, and 1099-S, and new boxes on Forms 1099-G, 1099-R, and 5498-QA. Form 1099-K reporting thresholds for third-party settlement organizations have reverted to over $20,000 in total payments and over 200 transactions for calendar years beginning after 2010, with updated backup withholding conditions for calendar years beginning after 2024.
Additionally, the publication removes Forms 1098-MA and 1099-H following the expiration of their associated programs. Forms 5498-ESA, 5498-QA, and 5498-SA have been converted to continuous-use forms, and Form 15397 for requesting an extension of time to furnish recipient statements can now be submitted online.
To review Publication 1099 in greater detail, click here.
