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Where e-filing information return forms comes full circle. We support 1099, 1098, W-2, and Affordable Care Act forms.

Archives for February 2020

Staying accurate on your forms with TIN Checking

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No-match letters are also known as “Employer Correction Requests,” and they are sent whenever there is an issue with TIN during filing. TIN numbers are an employee's social security number (SSN) or Employer Identification Number (EIN), information that is collected from the employee.  The SSN has begun sending no-match letters to businesses after a seven-year hiatus from doing so. This means that you’ll want to be extra cautious in assuring that you’re accurate on TIN matching when filing taxes this year. Simple errors can lead to much larger problems. By carefully taking information from employees through W-2s during the onboarding process, this will help to smoothly file forms. It’s simple information, but sometimes human error causes slip-ups. Unfortunately, when it comes to the IRS, those simple flubs can bring about much bigger issues. When no-match letters are sent or you are alerted to TIN issues, this doesn’t always mean that you or an employee has done something incorrectly. But since the SSA reports information to government agencies, filing 1099 forms with the correct independent contractor data is crucial to fluidly file. Read more about the Reasonable Cause Regulations and Requirements for missing TINs from the IRS. How to prevent delays and potential penalties A service that can alert you to any TIN issues can also prevent serious problems related to government agencies like ICE. Throughout the tax filing process, small matters can lead to much bigger problems Benefits of e-filing delivery services Preventing errors related to TIN verification is easy when using an e-filing service. Reducing the risk of notifications from the IRS should be strongly considered when it comes to tax filing season. Luckily, there are simple methods for ensuring TIN accuracy when filing taxes. When filing electronically with eFile360, the TIN Checking box is simply marked, and a TIN check automatically runs when taxes are filed through the eFile360 …

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What you need to know about 1099-MISC online form filing

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The most commonly used form, the 1099-MISC is used to report payments made to nonemployees to the IRS. The long and short is that if you pay a nonemployee more than $600 during the year, the 1099-MISC form is needed.  Preparing for online filing If you are filing more than 250 IRS tax forms, they must be filed electronically. When filing electronically, filers must receive approval from the Technical Services Operation (TSO) and the IRS. Filers are then assigned a five-character Transmitter Control Code (TCC) before e-filing forms.  eFile360 can’t assist with acquiring a TCC, but we can help you to send out your 1099 forms efficiently and easily. If you need to apply for a new TCC, you’ll need to file Form 4419, Application for Filing Information Returns Electronically in order to request the original TCC.  Once you’ve received your TCC, you’re ready to e-file your forms.  Sending forms to recipients If you are sending employees electronic forms, recipients of those forms must grant permission to receive electronic forms; if they do not, they must be sent paper copies. When you select the e-delivery service with eFile360, you’ll add recipient email addresses when submitting forms. Your recipients will receive an email with access details. They’ll be directed to a website to download the forms securely. TIN Checking Tax IDs and names must match up correctly when submitting 1099-MISC forms. Submit incorrect or missing tax IDs, and you might receive a B-Notice, tax withholding, or be slapped with penalties. One e-delivery service that can significantly improve accuracy is TIN Checking.  When you check the add-on option for TIN Checking when you submit your forms, we’ll automatically verify that the tax ID and names match before filing. If inconsistencies turn up during the TIN Check, we’ll let you know. After you return to verify the correct information with the recipient, we’ll recheck and file if the information matches. Find out more about how to …

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