For a couple years now, Tax1099, powered by Zenwork, has offered 1099 training sessions to prepare users for the eFiling season. In these sessions, Zenwork provided information on compliance changes as well as changes to the Tax1099 platform. In just two years, Zenwork has built incredible turnout for these sessions, as well as very positive feedback from Tax1099 users.
In the course of these training sessions, we received some very important feedback from our accountant users. These users told us that the information we were providing was a great value-add to their practices. Several went so far as to say that our sessions were on-level with other CPE credit seminars they attend.
At Zenwork, our goal is to provide the most current, most comprehensive compliance information available to our users. Our knowledgeable compliance team and our experienced developers work hard to code our platform to automatically comply with most IRS/state requirements. We want to make sure that our users understand the requirements, and how we are satisfying them.
Some of our users may not even be aware that we are accomplishing the tasks that the IRS sets out for filers, and even offering some additional adherence to best practice items.
Just a few examples:
- Identifying state filing requirements, and offering an opt-in to take care of the filing
- Validating USPS addresses for payers and vendors
- Maintaining records for 7 years, under higher security than required
- & more
Features like these, come inbuilt with any Tax1099 account, from Tax1099 Essential, to eFile Plus, to our Enterprise account. We’ve come to realize, though, that these features are not of much help to our users, if they don’t understand what they mean, or how Tax1099 handles these requirements. Come January, we always get several questions about the 1096 summary transmission form.
The conversation usually goes something like this.
“Hi, I just submitted my 1099 eFile, and I’m having trouble locating the 1096 summary form that goes with it. I need to make sure it’s filed with the IRS, please help!”
“Hi! Congratulations on a successful submission of your 1099 eFile! If you’re new to eFiling, you may not know this – but the IRS actually doesn’t require the 1096 to be submitted when you eFile your 1099 forms. That form is only required with a paper filing.”
Then, our live chat support staff will go on to explain that you’re able to generate a 1096 for your records in the Tax1099 platform, but that the form should not/need not be submitted to the IRS.
Part of our plan in offering our training sessions is to clear up some of this information for our users, and to prevent the panic and stress that comes with using a new system. Many of our users actually attend our sessions every year, as a sort of refresher course. It can be difficult to remember the in’s-and-out’s of a system that you may only see one month out of the year.
The other side of the training sessions we offer is more overarching process information for your filing, to help you game plan. We include information about changes to deadlines, changes to filing procedures, and a more general overview of where eFiling is headed in the future.
We have a direct line to the IRS, and receive regularly-updated information from both federal and state agencies. Though there’s a lot that Tax1099 can do to reduce your filing burden, there are a couple things that filers should be aware from their end.
Probably most important this year: the Box 7 deadline on Box 1099 MISC forms has been tightened yet again. You may remember the change in deadline to non-employee compensation 1099 forms a few years back.
The deadline moved from March 31 to January 31, in an effort to crack down on fraudulent tax returns made possible by the gap between the payer-side and recipient-side filing. Now, the IRS is going one step further. The IRS has decided to remove the 8809 automatic extension for Box 7 1099-MISC forms.
What does this mean for this year’s filers? If you’ve depended on the automatic 30-day extension to get your Box 7 1099 MISC forms filed in the past, that safety net is no longer available. Of course, as is always the case with the IRS, there are some safe harbor exceptions. For the majority of filers, though: be aware that your forms are due sooner than you may have planned.
We make it our goal here at Zenwork to inform and ease your eFiling process. That starts with sharing information on how to stay in compliance with changing requirements. We show you how we help you stay in compliance, and we’ll let you know what you need to do, too.
In preparation for the eFiling season, we contacted NASBA, the National Association of State Boards of Accountancy, to become a CPE credit sponsor. We presented our materials, and we were approved to offer a “1099 eFiling Overview” for 1.0 hour of CPE credit.
Last week, Zenwork presented the first two of six “1099 eFiling Overview” sessions that we are offering this season. Attendees are eligible for 1.0 hour of CPE credit based on a 50-minute hour. Attendees must remain on the session for the duration, and participate in the session by answering four poll questions. Attendees should note that any technical difficulties preclude eligibility for the credit. More information on receiving the CPE credit certificate will be shared during, and following the webinar.
There are four sessions remaining in the webinar. Sign up for a session to hear what’s new, and what’s coming soon, for 1099 eFiling!