The One Big Beautiful Bill Act (OBBBA) has garnered headlines for extending dozens of tax provisions and creating new tax-saving opportunities for individuals and businesses. But it also eases the rules for Form 1099-NEC, "Nonemployee Compensation" and Form 1099-K, "Payment Card and Third-Party Network Transactions." These forms are sent to both the IRS and payment recipients. Let's examine how these forms work and what's changed.
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