1099, W2 & ACA Year-End Tax Filing [ Made Easy]

By: Rick Rea Fargo ND

Year End Business Taxes Checklist
To Save Time, Money and Make 
Your Life Easier

1099, W2, and ACA Tax Filing Made Easy

First off I would like to state I feel your pain when it comes to year-end tax employee tax filing.  Especially when you have had independent contractors, employees, vendors etc from many states.  If you are with a large company this can be a long stressful task. 

Being in business for over 30 years and being directly and indirectly involved in the day to day of this year-end tax time circus, I came to soon realize there had to be a better way or a better service to help with this cumbersome task. 

File 1099 MISC Forms

There are many different types of 1099s, the one most commonly required and is the 1099-MISC. 

What you need to Get Started on your 1099 year end filing. 

1. You will need a list or way of accessing in your accounting software anyone you paid put $600 or more. 
2. Then you will need a 1096 Form to file with the IRS and get that all filled out. Try to muddle through all of that without a simple solution.  It can be rough. 
3. There are many 1099 Forms and a host of ways to obtain them. 

Look how expensive and the choices of 1096 IRS Tax Forms . Raed on for a simple Solution

• If you hurry 1099 Forms can be picked up at your local post office. Who wants to do that?  Not me and I'm sure you have better things to do with your time. 
• 1099 Forms can be ordered for the IRS and picked up at your local IRS Service Outlet.  I think I would rather fall on a Rose Bush!
• 1099 Forms and other Tax Forms are built in many accounting software programs. This is a better solution for sure!
  

Where to Send Your 1099 Files When Completed

Now you have determined who gets the 1099 Forms.
Time to complete and send your 1099 Forms to the IRS.  Your Choices are:

1. Fill in all 17 Boxes on all you have to send out my mail by hand?   I HOPE NOT!
2. Make sure all your addresses are up to date so you don't get the 1099 Forms returned to you for having a bad address. 
3. Make sure all your business name and address are correct and what is registered with the IRS.
4. Make sure your business Federal Identification Number (AKA: your EIN or FEIN). are correct and in the right box.
5. If you are using your accounting software make sure all your correct boxes are checked and double check the data above.
6. If printing yourself: Load the 1099 Forms in your printer and print from your account software?  SOUNDS BETTER THAN HAND WRITING THEM!
7. Note: Box 7 is where you put the amount paid in non-employee compensation, except if the 1099 is being sent to a property owner to whom you've paid rent, put the amount in Box 1 instead of putting the total amount paid in Box 7.
8. 1099 Forms are triplicate forms;
   1. Mail or eFile one completed 1099 Form to each recipient. 
   2. Mail or e-File one completed 1099 Form for each recipient to the IRS.
   3. Keep one completed 1099 Form for each recipient for your records. 
9. Complete IRS Form 1096. Official name of this form is the “Annual Summary and Transmittal of U.S. Information Returns.”
10. Complete a IRS 1096 Form for each type of 1099 Form you are submitting; if only 1099-MISCs, you only need one 1096 attached to all your forms.

2019 IRS 1099 Form Deadlines 

• All 1099s need to be mailed to contractors and vendors by Jan. 31.
• All 1096 Forms and copies of the 1099s need to be mailed to the IRS by Feb. 28.
• NOTE: You also may have to report 1099 earnings to the state. Deadlines will vary. Please check with the states that you need to verify all the state 1099 earnings requirements and deadlines.

Simplest Way To File all Your 1099 forms!

Wow, that is quite a bit of work and that's the easiest IRS Form I can think of that needs to be filed. 

I found the simplest way to file 1099 Forms, W2's and ACA to everyone all at once and you never need to leave your office. 

The best eFile company I have found bar none is a company come to find out is built into many accounting softwares. But anyone can get their free solution.

The company is Aatrix.com and you can go to their download software page for a Aatrix's FREE Download Preparer so you can make your year-end tax filings easy. 

Rick Rea

Written by Rick Rea

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