As we approach year-end, we would like to remind you of the 2025 Form 1099 filing requirements and upcoming deadlines. Timely and accurate reporting is essential to avoid penalties, so please review the information below carefully.
Key 1099 Deadlines
- January 31, 2026 – Deadline to furnish all 1099 statements to payees
- January 31, 2026 – Deadline to file Form 1099-NEC with the IRS
- Our internal cut-off date: January 15, 2026 – All required information must be received by our office in order for us to process and file your 1099s on time
What We Need From You
To ensure timely filing, please provide:
- Completed vendor information on the signed W-9s, (required to have on file)
- Total payments made during 2025 for each vendor
- Any relevant documentation related to digital asset transactions or payment processor activity
If you are unsure whether a payment requires a 1099, we are happy to review this with you.
Types of 1099s with requirements for filing
Form 1099-NEC (Nonemployee Compensation)
You must file Form 1099-NEC for each person or business you paid $600 or more during 2025 for:
- Services performed by non-employees
- Fees, commissions, prizes, or awards
- Other compensation for services
- Taxable fringe benefits
This form must be provided to both the IRS and the payee by January 31, 2026.
Form 1099-MISC
You must file Form 1099-MISC if you paid during 2025:
- $10 or more in royalties or broker payments in lieu of dividends or tax-exempt interest, or
- $600 or more in rents, prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments from notional principal contracts, gross proceeds paid to an attorney, fishing boat proceeds, or nonqualified deferred compensation.
New for 2025: Form 1099-DA (Digital Assets)
Beginning in 2025, brokers are required to use Form 1099-DA to report gross proceeds from sales of digital assets.
- Must be filed with the IRS and furnished to payees for each digital asset sale in 2025
- Cost basis reporting is not required for 2025, but may be reported voluntarily
Form 1099-K Reporting Requirements
For transactions occurring in 2025, Form 1099-K is required if both of the following apply:
- More than 200 transactions, and
- Gross payments of $20,000 or more
If you have any questions or need assistance with your 1099 filings, please contact our office as soon as possible. The cutoff for receiving your information is January 15, 2026, to allow us time to complete your filings accurately and before the January 31, 2026, deadline.