Income Reporting Threshold Has Changed for Many Small Business Owners
- Posted on September 8, 2026
- By Google News
- 1 Views
- 1 min read
In brief
The IRS has significantly updated its income reporting requirements for self-employed individuals and freelancers. After remaining stable for decades, the 1099 form filing threshold has jumped from $600 to $2,000. According to Courtney Kincaid, CEO of the Indiana CPA Society, this change affects how independent contractors must report earnings. However, it's crucial to understand that income below this new threshold remains fully taxable and must be reported on tax returns. This adjustment has major implications for small business owners managing their compliance obligations.
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Income Reporting Threshold Has Changed for Many Small Business Owners
The reporting threshold for individuals who report income via a 1099 has increased. Courtney Kincaid, the CEO and President of the Indiana CPA Society, says that after decades at $600, the reporting threshold for certain 1099 forms has increased to $2,000. She says this does not mean income under $2,000 is tax-free. For example, if […]
