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1099 FAQ - Frequently Asked Questions

Last Updated: Jan 14, 2017 11:45AM CST
Q. What is a form 1099?

     A. 
A form 1099 is similar to a W-2, but it’s for an independent
          contractor as opposed to an employee. It’s a way of telling
          the contractor AND the IRS how much the contractor got
          paid for the year, for a service. The IRS then compares the form 1099 they get
          to what the contractor puts on their taxes.



Q. What 1099 forms do you support?

     A.
  We support 11 different forms. -MISC, -A, -B, -C, -DIV, -G, -INT,
           -K, -PATR, -R, and -S.



Q. What other forms do you support? 

A. We support payroll forms such as W-2, W-2C, 940, 941, and 944 forms. We offer 1042-S, 3921 and 3922 forms, 5498 and the Affordable Care Act forms 1095-B and 1095-C.



Q. Can I file 1099s for federal and state (where required)?

     A.
  Yes. You can file both state and federal with our site with a touch of a button.

 

Q. Where can I find the forms I created but are not submitted?

     A.
  On the left-hand menu, go to forms -> view/edit/submit forms -> select the payer, tax year, and form. You will see a list of the forms that you created. To submit the forms, select the check boxes to the left of your 1099 forms, then click next. It will then require payment information. Once you have paid, you will get a 9 digit reference number. That is your confirmation the forms were sent to the IRS.



Q. Where can I find and/or print my forms after I submit them?

    A. 
After you have submitted your forms and got the reference number, you can go to the left-hand side, and click on Forms -> manage forms. Here you can select the payer and tax year and it will show you all the forms that you submitted. Here you can view/print your forms, email them to the recipient, email them to our portal so the recipient can download them from the portal directly, (applies only if you scheduled them to go to the IRS) and block or correct the forms before the scheduled date. You can even export them to excel to download a spreadsheet of all the information. 
 


Q. What is TIN matching?

     A. 
 The TIN Matching feature offers 1099 payers the ability to match 1099 payee/recipient
           information against IRS records prior to filing 1099 returns.
           TIN matching results will be available in 24-48 hours and results
           will be emailed to the payer's registered email address. Avoid IRS Penalties
           for Information Returns filed with missing or incorrect TINs. Internal Revenue
           Services impose a $100 penalty for Information Returns filed with missing or Incorrect
           TINs. IRS publication 1586 provides detailed information on Information Return Penalties.



Q. When is the due date for filing 1099s?

     A.
  For paper filing, the deadline is the last day of February for non-box 7 amounts or January 31 for Box 7 amounts. If you want to e-file it's the last day of January for 1099-MISC forms that have a value in box 7. If the 1099-MISC doesn't have a value in box 7 then the deadline is the end of March. 



Q. Do you also file form 1096?

     A.
 We do generate a 1096 form each time you submit forms, but the IRS does not require or need the 1096 when you e-file your 1099 forms. The 1096 is only needed if you paper file to the IRS.



Q. Can I void or correct a 1099 form?

     A.
  Yes. To correct an amount on a form, complete the following steps:
  1. Go to Forms>New Form
  2. Select the tax year and form type
  3. At the top of the form click the checkbox that says "corrected".
  4. Choose the payer and the recipient
  5. Put the correct amount in the same box that the amount was entered in on the original form.
  6. Submit the form.
If you entered the amount in the wrong box:
  1. Complete the same steps as #1-4 listed above.
  2. Put a $0 amount in the box wrongly entered on the original form.
  3. Put the correct amount in the correct box.
  4. Submit the form.
If you filed with the wrong SSN/EIN:
  1. Go to Forms>New Form
  2. Select tax year and form type
  3. Choose payer
  4. Choose recipient with incorrect SSN/EIN
  5. Enter $0 amount in the same box an amount was entered in on the original form.
  6. Submit form
  7. Go to Form>New Form
  8. Select tax year and form type
  9. Choose payer
  10. Click the ADD button in recipient box
  11. Enter the recipient information and enter the correct EIN/SSN
  12. Enter the correct amount in the correct box
  13. Submit form


Q. Can I run reports based on the payers or recipients?

     A. 
 Yes. Go to reports on the left and select the report you need. We have many reports for payers and recipients. 

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