The IRS has introduced changes to 1099-MISC and 1099-NEC forms starting with the 2025 tax year. The primary change moves excess golden parachute payments from the 1099M Box 14 (reclassified as "Reserved for future use.") to the 1099N form in the previously unused Box 3.

While the state does not make these types of payments you will notice that the Type in the Withholding Details section of a voucher in VISION will now default to 2025M or 2025N. Please note that the Finance Department is able issue the correct 1099 for a prior tax year. Any 2025 vouchers created before this change will be updated to the new 1099 types automatically. These new codes will remain in effect for calendar year 2026 and beyond unless the IRS requires further changes.

Please contact the VISION Help Desk if you have any questions.