The IRS has updated the standard mileage rates for 2026, reflecting changes in costs and usage trends. These rates are used to calculate deductible expenses for business, medical, moving, and charitable purposes.

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).

Beginning January 1, 2026, catch-up contributions for employees aged 50+ earning more than $145,000 must be made as Roth (after-tax) contributions.

Beginning January 1, 2026, the IRS is increasing the reporting threshold for Form 1099-NEC and Form 1099-MISC from $600 to $2,000 per calendar year.