IRS Updates: Form 1099 MISC Changes for 2022 - Explained

Updated on September 19, 2022 - 10 :30 AM by Admin, TaxBandits

Up until tax year 2019, Form 1099-MISC was used to report non-employee compensation in box-7. Beginning in the tax year 2020, IRS reintroduced Form 1099-NEC to report non-employee compensation on a separate form. Box 7 of the 1099-MISC was replaced and is now used to report direct sales of $5,000 and more.

For the 2022 tax year, the FATCA Filing Requirement checkbox can now be found on Box 13. Boxes 13-17 from the 2021 version of the form have been renumbered as 14-18 to accommodate this change.

Table of Content:

1. What are the changes to 1099 MISC for 2022?

The IRS has made a few updates to Form 1099-MISC which will be effective for the 2022 tax year. Box 13 is now a checkbox used to report the Foreign Account Tax Compliance Act (FATCA) filing requirement. As a result of this update, the original boxes 13-17 have been renumbered.

The following changes have been made to Form 1099-MISC for the 2022 tax year:

Changes to Box 13

Form 1099-MISC for 2021

1099 misc

Form 1099-MISC for 2022

1099 misc
  • Before: Box 13 was used to report the excess golden parachute payments.
  • Now: Box 13 is used to indicate the Foreign Account Tax Compliance Act (FATCA) filing requirement

Changes to Box 14

Form 1099-MISC for 2021

1099 misc

Form 1099-MISC for 2022

1099 misc
  • Before: Box 14 was used to report the payment under NQDC plans.
  • Now: Box 14 is used to report the excess gold parachute payments.

Changes to Box 15

Form 1099-MISC for 2021

1099 misc

Form 1099-MISC for 2022

1099 misc
  • Before: Box 15 was used to report the state withheld taxes.
  • Now: Box 15 is used to report the payment under NQDC plans.

Changes to Box 16

Form 1099-MISC for 2021

1099 misc

Form 1099-MISC for 2022

1099 misc
  • Before: Box 16 was used to report the payer's state number.
  • Now: Box 16 is used to report the state-withheld taxes.

Changes to Box 17

Form 1099-MISC for 2021

1099 misc

Form 1099-MISC for 2022

1099 misc
  • Before: Box 17 was used to report the state income
  • Now: Box 17 is used to report the payer's state number.

Changes to Box 18

Form 1099-MISC for 2021

1099 misc

Form 1099-MISC for 2022

1099 misc
  • Now: Box 18 is used to report the state income.

2. When is the Form 1099 MISC deadline?

The IRS requires payers to issue a copy of Form 1099-MISC to the recipient by the end of January 31st. The deadline to submit paper copies to the IRS is on February 28th, and the e-filing deadline for Form 1099-MISC falls on March 31st.

The IRS prefers e-filing to paper filing because it is a simpler method and tracking electronic copies of forms is more efficient than tracking paper copies. There are many more advantages of filing Form 1099 online, click here to learn more.

The Form 1099-MISC deadlines for the 2022 tax year are as follows:

Filing Method Deadline
Recipient copies January 31, 2023
Paper Filing February 28, 2023
E-filing March 31, 2023

3. How to fill out Form 1099-MISC?

The IRS requires payers to furnish the following information when completing Form 1099-MISC

  • Payers details: Name, Address, Contact number, payers TIN.
  • Recipient details: Name, Address, recipient TIN.

In boxes 1-18, payers are required to report the following miscellaneous payment information:

  • Box 1:Report the payments of $600 and above paid as rent.
  • Box 2: Report the payments of over $10 made to the individual as royalties.
  • Box 3: Report the income paid as awards, prizes, and other beneficiaries to the recipient.
  • Box 4: Report backup withholding of taxes made to recipients.
  • Box 5: Report payments made to a the fishing boat operation.
  • Box 6: Report payments made to a the healthcare service provider.
  • Box 7: Check the box to report if the payer made direct sales totaling $5,000 or more to the recipient.
  • Box 8: Report average substitute payments of $10 or more made in lieu of dividends or tax-exempt interest for a customer's securities loan.
  • Box 9: Report payments made for crop insurance proceeds of $600 or more.
  • Box 10: Report payment made to the attorney for legal services.
  • Box 11: Report the payment made for fish purchased for resale.
  • Box 12: Report the Section 409A deferrals and income, which pertains to non-qualified deferred compensation plans.
  • Box 13: Check the box if the payer is reporting on Form 1099’s to satisfy its chapter 4 account reporting requirement.
  • Box 14: Report excess golden parachute payments.
  • Box 15: Report the payment under NQDC plans that don't meet the requirements of section 409A.
  • Box 16 to 18: Report state and local income tax withheld.

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  • Bulk uploads
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