By: David L. Marrison, Field Specialist, Farm Management, Barry Ward, Director of the OSU Income Tax Schools and Jeff Lewis, Attorney and Program Coordinator- OSU Extension.
It is tax season! With tax returns set to be accepted by the IRS starting January 26 it is crucial for individuals and businesses to stay on top of important tax reporting deadlines. This is especially important this year due to the passage of the One Big Beautiful Bill Act (OBBBA) last July. This legislation significantly affects federal taxes, credits and deductions. Some of these provisions took effect in 2025 while others in 2026.
One of the important tax reporting areas to review in January are the guidelines and deadlines for 1099 forms. These 1099 forms, which report various types of non-wage income, need to be furnished to taxpayers by January 31. Additionally, copies also need to be sent to the IRS by the January 31st deadline (with a few exceptions) to avoid penalties and to ensure timely processing of tax returns.
This article will provide an overview of 1099 forms, highlighting the specifics of the 1099-NEC, 1099-MISC, and 1099-K forms. Additionally, we will share reporting deadlines, penalties for non-reporting, provide resource links from the IRS, and changes to the 1099 forms due to OBBBA. So, let’s dive in! Continue reading Navigating 1099 Forms in the OBBBA Era: A Complete Guide for the 2025 Tax Season