September 2, 2026
Try out the latest features and product enhancements.
Tax Updates
The threshold for 1099 purchases has increased. In line with IRS reporting guidance, we updated the 1099 threshold settings to reflect the new $2,000 reporting minimum for 2026.
- 1099-NEC Review – Totals page: The Include 1099 purchases less than $600 checkbox now reflects a $2,000 threshold.
- 1099-MISC Review – Totals page: The Include 1099 purchases less than $600... checkbox now reflects a $2,000 threshold.
- Form generation: 1099-NEC and 1099-MISC forms now respect these updated checkbox thresholds when determining which purchases/royalties are included.
There's a new code for Box 12 on W-2s. W-2 forms now report qualified overtime compensation as required under Fair Labor Standards Act (FLSA) guidance.
- Box 1 continues to reflect total taxable compensation, including all overtime pay—there's no change here.
- Box 12, Code TT is now populated with the qualified overtime premium from taxable pay, calculated using the IRS-approved alternative method: one-third (¹/₃) of the employee's total combined overtime pay for the period.
- This automates the qualified overtime calculation so no manual computation is needed at year end!
Coming Soon
Run financial reports for your parishes. Soon, a diocese can invite its parishes to share consolidated totals using a universal segment list and chart of accounts.