The following details offer a summary of modifications for Tax Year 2026, specifically concerning 1099 filing.  


The FIRE Filing System Is Being Retired

The IRS has confirmed that the Filing Information Returns Electronically (FIRE) system will be retired for Tax Year 2026 filings. Beginning with the 2027 filing season, the Information Returns Intake System (IRIS) will be the only IRS electronic filing platform for information returns. [irs.gov], [irs.gov], [irs.gov]


Key dates published by the IRS:

  • November 1, 2026: Last day to submit test files through FIRE
  • November 19, 2026: Last day to submit information returns through FIRE
  • January 1, 2027: IRIS becomes the sole electronic filing system for information returns


Electronic Filing Requirements Remain Expanded

Businesses that file 10 or more information returns in aggregate must generally file electronically. The previous threshold was 250 returns per form type. For many property management companies, this means electronic filing is no longer optional.


Form 1099-NEC and 1099-MISC Are Being Revised

The IRS has confirmed updates to Forms 1099-NEC and 1099-MISC for Tax Year 2026, including:

  • Separate address fields for payer and recipient information
  • New fields related to cash tip reporting
  • New Treasury Tipped Occupation Code fields
  • New overtime compensation reporting fields

These are official IRS form revisions appearing in the 2026 instructions and Publication 1099. [irs.gov], [irs.gov]


Reporting Threshold Changes

The IRS instructions for 2026 Forms 1099-NEC and 1099-MISC state that, beginning with tax years after 2025, the minimum threshold for reporting certain payments and backup withholding increases to $2,000 and may be adjusted for inflation beginning in 2027. [irs.gov]

 

What Does This Mean For You

As part of your year-end preparation, we encourage property managers to:

  • Review owner and vendor tax information for completeness and accuracy
  • Ensure Taxpayer Identification Numbers (TINs) and mailing information are current
  • Evaluate your organization's year-end reporting procedures
  • Stay informed about IRS filing requirements that may affect your business


What Does This Mean For PropertyBoss

PropertyBoss is updating its 1099 reporting tools to support the IRS form changes and transition to the new IRIS filing platform. You can expect the following updates:

  • Excel exports formatted to align with IRS templates
  • Separate Excel exports for Forms 1099-NEC and 1099-MISC
  • New PropertyBoss fields to capture additional IRS reporting data
  • Updated mapping of certain existing PropertyBoss fields to the corresponding IRS fields
  • Clear guidance on any information users must review or enter after exporting files for submission