Beyond Compliance Tax & Advisory

10/30/2026

1099 compliance is a common issue among my new clients. It's easy to put off until January — but penalties increase over time, and in an audit, undocumented payments can put legitimate business expense deductions at risk.

- No check goes out before you have a signed W-9. Missing one? Request it now. Have one? Confirm the name, TIN, and address.
- 1099-NEC: nonemployees paid for services — $2,000+ per payee for 2026 (was $600 for 2025 and earlier).
- Skip: corporations, generally — plus goods, personal payments, and card/app payments (reported on 1099-K by the processor).
- 1099-MISC: rents $2,000+, other income $2,000+, royalties $10+.
- Lawyers: fees go on NEC Box 1a at $2,000+, even if incorporated. Settlement/gross proceeds go on MISC Box 10, still $600. Both, if both.
- Interest paid by the business — including interest on shareholder loans — goes on 1099-INT, threshold $10.
- Deadline: February 1, 2027. No automatic extension for NEC. 10+ returns? You must e-file.

10/29/2026

Yesterday's news: a leak exposed the names, phone numbers, and email addresses of more than 40,000 Department of Homeland Security employees. That's the kind of breach that makes tax identity theft easy — all it takes is your Social Security number in the wrong hands.

An IRS Identity Protection PIN (IP PIN) is a free six-digit number known only to you and the IRS. Nobody can file a federal tax return using your SSN without it.

Honestly, it's a good idea for most taxpayers. It's a great idea if your information has ever been caught up in a data breach.

Get yours here: https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin

One thing to know: a new PIN is generated each calendar year. If you enrolled online, you retrieve the new one from your IRS account starting mid-January — it isn't mailed to you. And the IRS will never call, email, or text asking for your PIN. Anyone who does is running a scam.

09/15/2026

TODAY: EXTENDED 1065 & 1120-S RETURNS ARE DUE

For calendar-year partnerships and S corporations with valid extensions, September 15 is filing day.

09/01/2026

SEPTEMBER 15: Q3 ESTIMATED TAXES ARE DUE

Your estimated payment should not be: “Last quarter I sent $2,000, so I guess I’ll send $2,000 again.” Don't play tax roulette. If income, payroll, investments or your business changed this year, the estimate may need to change, too. The prior-year safe harbor is generally 100% of last year’s tax (or 110% for certain higher-income taxpayers) not a universal 110% rule.

08/19/2026

Employers: Beginning with 2026 W-2s, qualified overtime pay must be reported separately in Box 12 using Code TT. Employees can claim the new overtime deduction only for amounts reported there.

It is the employer’s responsibility to determine how much overtime qualifies. The deduction does not apply to all overtime wages—only the additional half-time premium required by federal law. Overtime paid solely because of state law, a union contract, company policy or another voluntary arrangement does not qualify.

Employers should make sure their payroll and timekeeping systems can identify and track qualified overtime separately for each employee.

08/19/2026

TUESDAY TRIVIA:

Who was born in Arizona, moved to Babylonia?

08/11/2026

My first grade lunch box was Pinnochio. What was yours?

08/07/2026

Just a reminder for anyone on extension — October 15 is closer than it feels right now. If you haven't started pulling things together, this is a good time to call. 571-707-4829 or message us here.

01/27/2026

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