The IRS Updates Form 1099-MISC

Sindi Basha

April 18, 2025

The IRS recently released an updated version of Form 1099-MISC, which is used to report a multitude of payment types including rents, royalties, attorney payments, and other income payment types. Beginning with tax year 2025, the excess golden parachute payments will no longer be reported in Box 14 of Form 1099-MISC, but instead in Box 3 of Form 1099-NEC. Box 14 is now reserved for future use.

To review Form 1099-MISC in greater detail, click here.

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Author

Sindi Basha

Sindi Basha is a Junior Regulatory Counsel at Sovos, where her practice focuses on state and federal tax withholding, information reporting, and Affordable Care Act compliance. Admitted to practice law in both Albania and New York, she brings an international legal perspective shaped by her cross-jurisdictional experience. She earned her Bachelor of Laws and Master of Laws in Criminal Law in Albania, and subsequently obtained her LL.M. in American Law from Boston University School of Law.

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