IRS regulations reducing the threshold for e-filing
On February 23, 2023 the Department of the Treasury and the Internal Revenue Service published final regulations reducing the threshold for filing certain information returns electronically.
- The new rules apply to tax year 2023 that you file in calendar year 2024.
- The regulations have lowered the threshold from 250 to 10.
- For information about the returns that are part of the aggregate count, refer to the IRS' New electronic filing requirements for Forms W-2.
Based on the IRS regulations, you'll need to correct Form 1099 returns using the same filing method as the original return. For example:
- If you filed the original Form 1099-NEC on paper, you need to file the Corrected 1099-NEC on paper.
- If you filed the original Form 1099-MISC through the FIRE system, you need to file the Corrected 1099-MISC through the FIRE system.
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