Beginning of tax season is challenging for individuals and businesses as they not only have to prepare and compile their income tax filing papers but also make sure that they provide accurate 1099 forms to their contractors by the due date which normally is January 31st.

 

1099 forms are known as informational reporting forms because these are official forms used to report income earned by nonemployees, freelancers, independent contractors and etc. Any income that is not earned by an employee of a company is to be reported on 1099 forms.

 

Payers who file 250 or more Form 1099 reports must file all of them electronically with the IRS. If fewer than 250 requirements is met, and paper copies are filed, the IRS also requires the payer to submit a copy of Form 1096, which is a summary of information forms being sent to the IRS. However with efile method, there is no requisite to submit form 1096.

 

Note: IRS recommends payers to efile 1099 forms even if it is less than 250 returns because it is quick, easy and secure.

 

We offer individuals/businesses/CPA s/accountants with speedy, user friendly and secure method to efile 1099 forms. Our advanced and secure online green tool offers time saving and cost effective service to file 1099 forms online.

We offer efiling service for various 1099 forms:

  • Form 1099-MISC, Miscellaneous Income, all pay types.
  • Form 1099-INT, Interest Income.
  • Form 1099-K, Merchant Card and Third-Party Network Payments
  • Form 1099-DIV, Dividends and Distributions.
  • Form 1099-A, Acquisition or Abandonment of Secured Property.
  • Form 1099-B, Proceeds From Broker and Barter Exchange Transactions.
  • Form 1099-C, Cancellation of Debt.
  • Form 1099-PATR, Taxable Distributions Received From Cooperatives.
  • Form 1099-S, Proceeds From Real Estate Transactions.
  • Form 1098, Mortgage Interest Statement (Coming Soon).
  • Form 1098-C, Contributions of Motor Vehicles, Boats, and Airplanes (Coming Soon).
  • Form W-2G, Certain Gambling Winnings (Coming Soon).

 

1099 online due dates:

  • January 31st 2015 – Last date to send 1099 forms to recipients
  • February 28th 2015 – Last date to file 1099 forms with IRS (paper filing)
  • March 31st 2015- Last date to file 1099 forms with IRS (electronic filing)