08/05/2026
I just got back from the IRS Tax Forum 2026, and these are three updates every business owner should know:
1. The 1099 reporting threshold has changed.
For many 1099-NEC and 1099-MISC payments made in 2026, the reporting threshold increased from $600 to $2,000. But don’t let that fool you, you’re still responsible for reporting all taxable income, whether you receive a 1099 or not.
2. Your social media can become part of the conversation.
If your Schedule C is ever examined, what you post online can be compared with the information reported on your return. If your lifestyle or business activity doesn’t align with your filings, expect questions. The lesson? Keep your records as consistent as your content.
3. The IRS is using AI.
The IRS continues to expand its use of artificial intelligence and advanced analytics to identify suspicious filing patterns, detect potential fraud, and prioritize returns for review. Accuracy has never been more important.
The takeaway? Good bookkeeping, accurate reporting, and honest records aren’t just best practices, they’re your best protection.
Have questions about what these updates mean for your business? Let’s talk in the comments or send me a message.
