For 2026, the Social Security maximum taxable earnings limit has increased to $184,500. This is up from $176,100 in 2025, meaning high earning employees will pay Social Security tax on an additional $8,400 of income.

If you paid $600 or more during the 2025 calendar year to individuals, independent contractors, or non-corporations for services, you are required to issue a Form 1099-NEC (Nonemployee Compensation).