Showing posts from February, 2019

Feb 28th vs. April 1st: Which deadline do you prefer?

IRS Form 1099 Deadlines

While we spend a lot of time talking about the January 31st deadline for 1099MISC forms with a Box 7 nonemployee compensation amount (always a mouthful)... There are other form deadlines to be aware of.

Many of you are still suffering from the shock of the new 1/31 deadline for nonemployee compensation forms. The IRS adjusted that deadline a few years back, moving it up from March 31st. Even after the surprise of the earlier deadline has worn off, the deadline can be a difficult one to meet. It can be a scramble to collect and verify information, and then to create and file forms. Tax1099 helps users with this process, offering W-9 eSolicitation, TIN matching, and accounting software integrations.

The earlier deadline for 1099MISC Box 7 forms has another effect: the rush to file makes it difficult for you to transition from preparing and triple-checking your submission to getting ready to file other 1099 forms. That's why we'd like to remind you that yo…

IRS Form 1099MISC wrap-up reminders

The first month of 2019 is already long gone. Hard to believe, isn't it? It's a strong argument for "time flies when you're working so hard you forget to look up." Let's just hit pause for a second, and take stock of the status of your 1099MISC eFiling. 
Have you submitted all your 1099MISC forms with a Box 7 amount to the IRS? Have you sent info to the IRS for all payers, and all recipients? 
To some of you, this may seem like an odd question. If you're used to paper filing your 1099MISC forms, you're used to sending all forms in at once, with a 1096 summary form. When you eFile, you don't need to do this, though. You may submit forms in separate batches, and no 1096 summary form is required by the IRS. 
While this is great news for many filers, it can also be a little risky. You're missing information from one recipient, and you think, "no problem, I'll collect it, and send it in later." Only, George never gets back to you, and …