ASCENDER 11.0505

❏ Per IRS requirements, updated the 1099-MISC/1099-NEC forms/instructions and all 1099-MISC/1099-NEC functionality to support the 2025 tax year.

2025 Form 1099-MISC changes:

• In the top-right corner of the form, updated revision date from (Rev. January 2024) to (Rev. April 2025).
• Box 14 was previously labeled “Excess golden parachute payments” and now changed to be grayed out.
• In the bottom-left corner, updated revision date from (Rev. 1-2024) to (Rev. 4-2025).

2025 Form 1099-NEC changes:

• In the top-right corner of the form, updated revision date from (Rev. January 2024) to (Rev. April 2025).
• Box 3 was previously grayed out and now labeled “Excess golden parachute payments”, open for a value, and formatted as other fields (e.g. Field 1).
• In the bottom-left corner, updated revision date from (Rev. 1-2024) to (Rev. 4-2025).