Why the 1099 Threshold Never Changed (Until Now)

By Jason Dinesen, EA This year, the threshold finally changed for many types of transactions reported on a 1099 from the old, familiar $600 amount to $2,000.  The $600 threshold comes from section 6041 of the tax code. This was written in 1954 and was not indexed to inflation, which is why it never changed as the decades went by.  It’s true that our current version of the $600 threshold dates to 1954. But information reporting, and the thresholds (including a $600 threshold under an older…