Tax
1099-MISC Box 14 moves to 1099-NEC Box 3
Effective for the 2025 tax year, the IRS has updated the reporting requirements for excess golden parachute payments. These payments must now be reported in Box 3 of Form 1099-NEC. This information was previously reported using Box 14 on Form 1099-MISC.
Action required
You'll need to do the following:
Update suppliers that currently point to 1099-MISC Box 14 so that they now use 1099-NEC Box 3.
Update existing transactions and tag them for 1099-NEC Box 3.
Run the 1099 report to get an idea of which suppliers need to be updated. Get started now by reading this guide.
Permissions and other requirements
| Subscription | Accounts Payable |
|---|---|
| Regional availability | United States |
| User type | Business user with admin privileges |
| Permissions | Accounts Payable To update suppliers
To run the 1099 report
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