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Showing posts from February, 2018

Get your form 1099 filing extension

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We've reached the end of February. Some of you may have circled February 28th on your calendar as "deadline day" for filing your 1099 forms. Now that the day is here, you're scrambling to purchase the pre-printed forms, to print and to fold the forms, to stuff the envelopes, to put stamps on forms, to get the forms to the post office...

Recognize that process? So do many of our users - they followed that process before migrating to Tax1099. The fast, accurate, secure eFiling experience we provide replaces the time-intensive process with a filing only a few clicks away.

Some of our users transition to Tax1099 more intentionally than others. Some of our users find themselves unprepared for the February 28th paper filing deadline, and look for ways to get an extension on their filing. They discover eFiling; an automatic, month-long extension of the paper filing deadline.

When you eFile your 1099 forms, your deadline is automatically extended from February 28th to March…

Filing Past the Deadline

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We're now two weeks from the deadline for 1099-MISC forms with a Box 7 amount. Have you completed the filings you're responsible for?

If so, congratulations! We know you're still adjusting to the deadline, changed last year from March 31st to January 31st. Getting those forms in on time is crucial to avoiding penalties from the IRS.

If you haven't filed your 1099-MISC Box 7 forms yet, those penalties could be headed your way. Here's a breakdown of those penalties:
Up to 30 days late: $50 penalty per return, $536,000 maximum31 days late - August 1: $100 penalty per return, $1,609,000 maximumAfter August 1: $260 penalty per return, $3,218,500 maximum Those penalties strengthen further if the IRS deems you have intentionally disregarded the filing requirement. The penalties amount to $530 per return, with no maximum penalty.

What's keeping you from filing?

One misconception you might have is that all forms for a payer have to be filed at once, in a single batch. W…

Post-season Tasks

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We are now a week past the Box 7 deadline for 1099-MISC forms. Unfortunately for some of you, that doesn't necessarily mean that you're done with all that is "Box 7 1099-MISC form filing." Some of you are still gathering information for a few remaining forms. Some of you need to make corrections to your forms. In either case, we at Tax1099 are here to help.

Filing final forms
Did you know that when you eFile, the IRS doesn't require all forms under a payer to be sent in a single batch? If you have information ready for some vendors under a payer, but not others, you don't have to delay the entire filing. You can go through with the filing of forms that are complete, and you can file your other forms when ready. Tax1099 is available year-round, and we will be accessible to you when those final forms are filled out.

Correcting forms
So, you made a mistake. Let's make it right. First, what kind of error was made? Do you need to correct a box amount? Do you ne…