For Canadians unfamiliar with the topic, form 1099 is the US equivalent of form T5018.

Assuming the date is not postponed, starting with the 2026 filing year (in January 2027), the IRS is sunsetting its FIRES system and requiring use of its IRIS system to eFile 1099 forms.

The IRIS system accepts CSV files only, while FIRES accepts TXT files only. IRIS is much more demanding about formatting, including identifying individuals (versus companies) and requiring separate fields for First, Middle and Last names. It also requires TIN (taxpayer identification number) matching and will reject a file if the TIN is invalid or doesn't match the name.

The reason I mention this is that Adagio Payables has integration with a third-party product called 1099Express. I expect 1099Express will be updated to handle IRIS (it currently does not).

What I'm not sure about is whether Adagio Payables will have to be modified to continue to integrate with 1099Express. My guess is that the answer is yes. Knowing the track record of Softrak, I'm not optimistic this will happen in time.

A couple of other things to point out...

1099Express will not offer the option to create an IRIS compatible file for users like me to submit, as it does for FIRES. They will only offer a service, and charge users by the file for each submission.

The current cutoff of $600 (below which it is not required that a recipient receive a 1099) will be raised to $2,000.

Steve

Steve

The T5018 recently made significant changes to the file layout, which Softrak implemented so hopefully they will also update Payables for the new 1099 changes.