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Employers with 50 or more full-time employees (including full-time equivalent employees) in the previous year use Forms 1094-C and 1095-C to report the information required under sections 6055 and 6056 about offers of health coverage and enrollment in health coverage for their employees.

Beginning in 2023, third-party payment networks must file Form 1099-K with the IRS and provide a copy to the taxpayer when the gross payment amount is more than $600. However, not all payments from third parties are taxable. Taxpayers can take steps to prevent non-taxable items from being reported.

Form 1094-C is used to report to the IRS summary information for each employer and to transmit Forms 1095-C to the IRS. Form 1095-C is used to report information about each employee.

Beginning January 1, 2023, platforms are required to send 1099-Ks to merchants when the gross amount of total reportable payments exceeds $600 in a calendar year. This change impacts tax reporting for 2023 and subsequent years.

Due date for submission to the IRS The IRS requires most 1099s to be submitted by February 28, 2023 through the mail and by March 31, 2023 if you file the form electronically, except 1099-NEC, which is submitted by January 31.

Form 1094-C is used to report to the IRS summary information for each employer and to transmit Forms 1095-C to the IRS. Form 1095-C is used to report information about each employee.

9The IRS uses both the 1099MISC and 1099NEC to report taxable payments made to nonemployees. The 1099MISC is used to report payments not subject to selfemployment tax. Form 1099NEC is for reporting nonemployee compensation that is usually subject to the selfemployment tax.