2025 Form 1099-MISC and 1099-NEC

 

Excess golden parachute payments are no longer reported on Form 1099-MISC, box 14. You can now report these payments on Form 1099-NEC, box 3.

 

Form 1099-MISC

Box 14 was removed from the 1099-MISC form.

 

Form 1099-NEC

Box 3 was added to the 1099-NEC form.

 

For more information, see Excess Golden Parachute Payment section of the Instructions for Forms 1099-MISC and 1099-NEC: https://www.irs.gov/instructions/i1099mec#en_US_2025_publink1000133595

2026 Social Security Wage Base

The Social Security (Old-Age, Survivors, and Disability Insurance) taxable wage base increases from $176,100 to $184,500 for 2026. For more information, see The 2026 Cost-of-Living Adjustment (COLA) Fact Sheet: 2026 Cost-of-Living Adjustment (COLA) Fact Sheet | News | SSA

W-2 Box 12 Code Descriptions

 

The updates for the W-2 Box 12 code descriptions are effective for the 2025 tax year:

• Code F now includes Roth SEP IRA elective deferrals.

• Code S now includes Roth SIMPLE IRA salary reduction contributions.

 

 

For more information, see the 2025 General Instructions for Forms W-2 and W-3: 2025 General Instructions for Forms W-2 and W-3

Defect 2538040: When you selected the Unit Base option in Cost Distribution within Purchase Order Line Detail and entered a quantity with a decimal, the application displayed an error message upon submitting the purchase order. This also occurred when multiple lines were included in the override.