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

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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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How to deliver 1099 forms to recipients

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If you’re a larger business, the tax filing season can be a stressful time of year. You have many forms to deliver and need to make sure everything is completed accurately.  For companies that pay additional compensation apart from typical wages or salary payments, a 1099 form is required in order to report income to the IRS. Apart from employees and nonemployees, other company payments also require reporting specific details via 1099. Keep reading to learn more about the specific reporting requirements of the 1099-MISC. 1099-MISC Reporting Requirements  Box 1: Rental payments, including equipment, property, real estate, or vehicles might be reported here. Box 3: Awards and prizes not directly related to services, or other income payments, such as punitive damages. Box 6: Any payments made to doctors, suppliers, or providers of any medical services. This could include physical exams, lab work, hospital fees and charges, and other services.  Box 7: Professional fees for services provided by engineers, accountants, attorneys, and so on, or services such as repairs, landscaping, marketing, and so on. This includes nonemployee compensation, as well as any prizes awarded to those nonemployees in exchange for their services. Box 14: If you are involved in a legal settlement and have made payments to an attorney, the service fees are usually reported here. Ensure accuracy with bulk e-filing. Once you’ve figured out which 1099 forms you need to deliver and there is a large number of them, a bulk uploading service is your best bet. An efficient e-filing service will help you to ensure that your information is accurate, and help to prevent any penalties or inaccuracies. Your e-filing and mailing delivery options Since the IRS requires form recipients to consent to electronic delivery (and if no consent is given, they must receive a paper form), eFile360 offers this e-delivery service. When you select the e-delivery service option, recipients receive an …

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