Thresholds are based on IRS reporting requirements and apply to all funds earned by a payee throughout the calendar year, not to individual payment transactions.
| Year | Annual Reportable Amount |
| Through 2025 | $600 |
| 2026 - Present | $2,000 |
The above table does not apply to:
- Royalty payments: Royalty payments are subject to a separate IRS reporting threshold of $10, based on the total royalties earned by a payee during the calendar year.
- Gross proceeds paid to attorneys: Payments of $600 or more made to an attorney in connection with legal services are reportable for the calendar year.
University policies, forms, and websites will be updated to reflect annual federal reporting thresholds. If any university policy or webpage is not yet updated, the IRS reporting requirements will govern.