Information Return Intelligence
Episode 31: Treasury Aligns Backup Withholding with New 1099 Reporting Thresholds
7:48
The Treasury Department has released proposed regulations that would update the backup withholding rules to align with the new information reporting thresholds created by the One Big Beautiful Bill.
For decades, the familiar $600 reporting threshold under Sections 6041 and 6041A remained unchanged. Beginning in 2026, that threshold increases to $2,000 and will be adjusted annually for…