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Efile IRS Tax Form 1099 Online | Electronic filing of form 1099 Made Easy

Etax1099.com is the IRS authorized efile provider for 1099 tax forms. It comes from a series of tax e-file services provided by yakshna solutions inc, which is a leading provider in the tax industry. There are customized packages available for tax professionals as well as individual filers to report their form 1099's with ease. It provides bulk filing features and customer support over phone, chat and email.

File form 1099 with etax1099 today !

Filing Miscellaneous Income - How To File Form 1099?

Posted by Admin on 24. March 2014 09:23

The miscellaneous income is titled as form-1099-MISC.This federal form 1009 is required to file every year as a year-end report. Employers will provide the independent contractors and other non-employees with this federal form 1009 and so that they are required to file informing the IRS of their federal and state income tax information returns. The recent rulings of IRS are incorporated in the form 1009 in a way suitable for certain payers are as follows-

The taxpayer can now have a foreign address. A tax-payer have a EIN but not in USA

Box 11 is new, Foreign tax paid on payments reported on Form 1099-MISC. Report this amount in U.S. dollars.

Box 12 is new. Foreign Country or U.S. Possession for which the foreign tax was paid and reported in box 11.

As IRS through their expert stated that "There were a ton of proposed changes to the 1099-MISC form for the last several years. But those changes were rescinded. A provision in the Affordable Care Act (Obamacare) wanted to change the 1099-MISC form which reports $600 in services to "goods and services". That would have really expanded the use of this form. But the new foreign address and tax paid is growing the form as well."

Who must file form 1099-?

A businesses should provide form 1099-MISC for the current year when paid $600 or more in the past year to individuals, independent contractors and other businesses. $10 or more paid towards royalties and for some direct and indirect sale of any consumer goods to an agent/wholesaler or retailers for resale to the worth of $5000 or more.

Who should be given this form 1099?

Form 1099-MISC must be provided to any "non employee" to whom you paid $600 or more during 2011. This includes:

1) Payments for rental property expenses

2) Payments to a physician, physicians' corporation, or other supplier of health and medical       services. Issued mainly by medical assistance programs or health and accident insurance plans.

3) Payments for services performed for a trade or business by people not treated as its employees. Examples: fees to subcontractors or directors and important payments. 

4) Fish purchases paid in cash for resale.

5) Crop insurance proceeds

6) Gross proceeds paid to attorneys. (Box 14) (Due to IRS February 15th).

There is a difference between W-2 and and form 1099-MISC.

Form 1099 –MISC is given by businesses to non-employees like independent contractors and other small companies towards payments made no later than January 31st.

W-2 is given to employees working for an organization by the employer.

Then the businesses have to submit by e-file all 1099-MISC forms to IRS on or before February 28th in a calendar year.  Along with Copy A of all the 1099-MISC forms businesses provided to non-employees, one must submit a Form 1096 transmittal form to the IRS which totals all information from all 1099 forms. One should not use the downloaded 1099-MISC copy A from internet, because Copy A of the 1099-MISC form is in a specific color of red ink and cannot be duplicated.

One can submit all forms of 1099-MISC along with transmittal form 1096 (Annual summary and transmittal of US information returns) to IRS.  

E-file through http://www.Etax1099.com

The Most Common Flaws One May Have To Avoid With Form 1099

Posted by Admin on 7. March 2014 13:44

Filing form 1099 season, the big and small companies work their business in a way that is defensible. One needs to be careful in submitting them in time to avoid penalties. The cost load on businesses rapidly grows every year and therefore the requirements on some IRS forms 1099.

Now it seems Form 1099 is like a burden for many as they dislike neither receiving it nor issue them to their vendors from whom they get the services done and also to IRS.People offering business services and people getting the services both should co-operate in order to make the form 1099 to be filed successfully with IRS. Forms 1099 must be issued by every person in business paying $600 or more during the year for services. Even corporate recipients of $600 or more should be issued with form 1099.

Even though there are lot of cry for the repeal of form 1099, IRS and Congress are clear that when some of the chunk of income that form 1099 would raise will be reasonably big and hence if it is not reported in form 1099 amounts to not being reported on a tax return The little forms 1099 that IRS receives from people to process on their vital pieces of information will be like a trap of flaws which cost them big.

a) To follow up e-mails regularly- will help people to be careful and watch for each form of 1099 as they are tracked with Social Security Number.

b) To inform and update your changes of address with issuers, payers and U.S.post office-this is important for IRS based on SSN and state tax authority. So people get a copy from the payers. By this you will see the forms 1099 as IRS sees it. One can use Change of Address form 8822.

c) Be cautious and alert of mistakes- Do not pile up incoming mails on forms 1099 and open them to follow-up immediately- for mailing 1099 forms to your tax payer the deadline is January 31,so the payer gains some time up to February end to send the copies to IRS.This advantageous delay may help payers to correct and fix mistakes. So it will be better for companies to take the 30 day delay. If there is any discrepancy in 1099-Misc claiming say $4000 as against the original and true income of only $400,this information should be passed on to the payers for making necessary corrections in the forms 1099 before submitting to IRS. So IRS may not add unnecessary addition of amounts to-gether.

d) Do not lose envelopes – Open the envelopes and study the form and keep in a safe place as one need them for filing returns on own or through a paid preparer.

e) Ask for the right one form 1099 - This is to avoid the duplication, if one miss a form 1099 and ask for another form 1099 from payers who may send them incorrectly will lead the IRS computers to compute one’s income doubly. This is because the income and amount filed in TAX return and form 1099 should match.

f) Do not ignore form 1099 - By careful submission to IRS of what is the income from capital gains and or from recovery of basis say an injury lawsuit recovery which may not be a income or something need to be reported properly will help many clients file tax bills peacefully.

Register with Etax1099 and Start Filing Your Form 1099.

IRS Form 1099 Filing Services

Posted by Admin on 28. January 2014 10:48

Today we are going talk about how to show you how to file form 1099 and how easy it can be using Etax1099.com.

How to file form 1099?

The first thing you should do when looking to e-file your federal 1099 form is to register yourself on our site. You can do this by entering some personal information about yourself and making an account that will help us keep all of your paperwork and information stored in a safe and organized manor.  After you fill out that information you will then be asked to fill out the payee’s details, this is the person you have done work for and that you paid you money for a job you have done for them. This information can be found on the 1099 form information that the person needed to give you in order for you to claim this money as taxable income.  If you have many different people you worked for, you will have to fill one out for each person or company. The next step is to enter all of the tax details and add all the money that was paid to you. We will help you with this process by walking you thru each step of this process.  After all information is added and you are satisfied with the information you have given you can then e-file your form 1099 right from our site. You will have to do one at a time but you are able to send out each and every one 1099 that you have to fill out right from one account.

Why else should you use Etax1099.com?

We have many unique features available that you should really consider when looking for a site that helps you file you 1099 forms.  First, we offer single account, unlimited filing from one account.  There is never any software to purchase or download because all of the information is found right on our site when you sign in to your account. We also keep your information for 3 years, safe and secure, so you can utilize it any time you need it.  Another feature we offer is email updates about your account and 24 hours a day and 7 days a week customer service and support if you need it.  We also offer very low service charges and the costs of filing your 1099 are very low compared to our competitors.  You can instantly print your 1099-MISC for your records and have email conformation as soon as the IRS has accepted your filings.  You can also pay money if needed because our site is an accredited by McAfee to provide safe online payments.  We are also an authorized IRS e-file provider so you can be sure to get great quality service.

As you can see there are many great reasons to e filing your form 1099.  We can offer a lot of help and support as well as a place to keep all forms neat and tidy if you ever need them.

CLICK HERE TO REGISTER AND FILE YOUR FORM 1099 TODAY

Filing Of IRS Form 1099 For the Year 2013 - 2014

Posted by Admin on 9. January 2014 15:47

Filing of form 1099 has started, so today we are going talk about how to show you how to file form 1099 and how easy it can be using etax1099.com.

How to file form 1099?

CLICK HERE TO REGISTER AND FILE YOUR FORM 1099 TODAY

The first thing you should do when looking to e-file your federal 1099 form is to register yourself on our site. You can do this by entering some personal information about yourself and making an account that will help us keep all of your paperwork and information stored in a safe and organized manor.  After you fill out that information you will then be asked to fill out the payee’s details, this is the person you have done work for and that you paid you money for a job you have done for them. This information can be found on the 1099 form information that the person needed to give you in order for you to claim this money as taxable income.  If you have many different people you worked for, you will have to fill one out for each person or company. The next step is to enter all of the tax details and add all the money that was paid to you. We will help you with this process by walking you thru each step of this process.  After all information is added and you are satisfied with the information you have given you can then e-file your form 1099 right from our site. You will have to do one at a time but you are able to send out each and every one 1099 that you have to fill out right from one account.

Why else should you use etax1099.com?

We have many unique features available that you should really consider when looking for a site that helps you file you 1099 forms.  First, we offer single account, unlimited filing from one account.  There is never any software to purchase or download because all of the information is found right on our site when you sign in to your account. We also keep your information for 3 years, safe and secure, so you can utilize it any time you need it.  Another feature we offer is email updates about your account and 24 hours a day and 7 days a week customer service and support if you need it.  We also offer very low service charges and the costs of filing your 1099 are very low compared to our competitors.  You can instantly print your 1099-MISC for your records and have email conformation as soon as the IRS has accepted your filings.  You can also pay money if needed because our site is an accredited by McAfee to provide safe online payments.  We are also an authorized IRS e-file provider so you can be sure to get great quality service.

As you can see there are many great reasons to e filing your form 1099.  We can offer a lot of help and support as well as a place to keep all forms neat and tidy if you ever need them.

CLICK HERE TO REGISTER AND FILE YOUR FORM 1099 TODAY

What is Form 1099 and How You One Can File it Online?

Posted by Admin on 1. January 2014 09:19

Today we are going talk about form 1099 and how to fill out and how to fill out form 1099 online. We will also talk about who needs to fill out form 1099 and why it’s important.

What is form 1099?

Form 1099 IRS forms are used for a variety of different reasons.  The Form 1099-B reports the sales of stocks and bonds and mutual funds.  Form 1099-C is a form to fill out if you have had a debt cancelled at any time of the year.  The form 1099- DIV reports all dividends, qualified dividends and capital gains.  Form 1099-G is to be filled out if any unemployment money was collected throughout the year or if any government funds were given.  Form 1099-INT is the form to fill out if you have any interest to report. 

Form 1099 –MISC is the most used form of all 1099 IRS forms because it is used to show how much independent contractors make in a given year. This form will also be filled out in the event of any rent, royalties, and other moneys collected in this manner.  So if you own a home and rent it out as a landlord you will need to fill out this form to let the IRS know exactly how much rent has been paid each year to you. The form 1099- MISC is used if you work for yourself and do a special service for another business, such as a general contractor hiring you, the plumber to do the work. You will report that income using the 1099-MISC because the money made needs to be taxed as income. 

What other reports are filed with Form 1099?

The form 1099-MSA is a form to fill out if you have a medical savings account that paid out money to you throughout the year. This account is a special account that allows you to have money used for medical reasons to be not taxed.  This is the form to use to let the IRS know that you utilized this tax savings. Next, is the form 1099-PATR which reports dividends paid by a cooperative and 1099-OID reports all original issue discounts.  Form 1099-R reports any money given out to a person from a retirement fund such as an IRA, 401k, or a pension plan. 

Next, we have form 1099-S which reports sales from any real estate sold within the tax year.  Form SSA- 1099 reports all Social Security benefits paid out throughout the year through taxes or if you have to pay money through the year due to self-employment.  Form RRB-1099 is the form to use if you are reporting railroad retirement benefits that you may be getting if you worked on the railroad as your career and now get a retirement stipend from the railroad or Railroad Company you worked for.

 

I hope this article has helped give you a good idea of what exactly you need to fill out the form 1099 for. There are a lot of different 1099 IRS forms so if you need help please ask us any questions here at Etax1099.com.

CLICK HERE TO REGISTER AND FILE YOUR FORM 1099 TODAY

What is IRS Form 1099-MISC and How to File it?

Posted by Admin on 15. November 2013 07:54

The IRS requires certain forms be filled out and submitted who makes certain kinds of payments.  The IRS 1099- MISC can be used to cover payments you receive from rental property, royalities, prizes, awards, and subsititute payments instead of dividends. The most common use of this form, is to report the earnings if you work as an independent contractor, such as a freelance writer. You only have to submit a form 1099-MISC if you made over 600.00 from a client.

tax form 1099

What exactly is the Form 1099-MISC?

Even as an independent contractor you have to report all of your earnings on your tax return, but you do so in a different way than normal employees, who pay taxes right out of their paychecks.  If your freelance work is more of a side job and not your main sourse of income you can just include the payments in “other income” which will go on the first page of your tax return.  However, if your main job is being an independent contractor and you make substantial money from doing so the IRS will think of you as being self-employed.  All self-employed taxpayers must file 1099-MISC income which you would attach to your return.  You are also liable for all Social Security and Medicare taxes which you would calculate on the tax form Schedule SE and attach it to your return.

What else do I need to know about the form 1099-MISC?

There are many advantages in earnings non employee income and having to to file a 1099-MISC. The biggest benefit is that you can claim a lot of different deductions from your business that people with regular jobs can’t.  You are able to deduct items based on if they are used for work only, such as an office space in your home, computer, car, all office supplies, tools, and other items can be itemized and lower your tax bill.   You will also need to send out form 1099-MISC to each person that you have paid for services or goods over 600.00 in the year.  This includes if you paid over 10.00 in royalties or broker payments instead of dividends, if you have paid someone medical payments, rents, services (including parts and materials), cash payments if you bought fish from someone who has a catching business, if you sold your boat, or if you paid over 600.00 dollars to an attorney.  You can file 1099-misc online or you can file it through the mail attached to your tax return. The IRS prefers you send it electronically because it is easier for them to go through all the tax returns and saves a lot of paper and postage if you  do it that way.

Filing your taxes can feel like a daunting task, so having someone prepare them for you may be a good idea.  Filing your taxes has never been easier then now, because there are many services and IRS approved websites that can help you file it quickly and accurately.

 

CLICK HERE TO REGISTER AND FILE YOUR FORM 1099 TODAY

Filing Form 1099-MISC

Posted by Admin on 30. September 2013 07:41

With all of the forms available from the IRS, it can be difficult at times to know which form to file and when. Generally speaking, the 1099-MISC form is for independent contractors or freelance workers seeking to report their earnings to the IRS, but there are several other situations in which to use this form. Here is a quick overview of IRS 1099-MISC.

Form 1099-MISC Guidelines

According to the IRS website, a company should file form 1099-MISC for each person to whom they have paid during the year:

1)      At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest

2)      At least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish, or, generally, the cash paid from a notional principal contract to an individual, partnership, or estate;

3)      Any fishing boat proceeds; or

4)      Gross proceeds of $600 or more paid to an attorney.

There are times, however, when an IRS 1099-MISC form is not necessary. These cases include, but are not limited to, the following:

1)      Payments to a corporation.

2)      Payments for merchandise.

3)      Wages paid to employees.

4)      Military differential wages paid while the employee is on active duty.

5)      Business travel allowances paid to employees.

6)      Cost of life insurance.

7)      Payments to a tax-exempt trust.

In general, in order to file 1099-MISC online, you need to be paying a person who is not your employee for goods or services (a freelancer or contract worker). If the person you have paid is an actual employee of your company, a W-2 is the appropriate document to use.  

Preparing the Form

If the IRS 1099-MISC form is appropriate for you, there are many options when it comes to actually preparing the document. Perhaps the simplest way to do so is by purchasing software that can prepare it for you and then E-filing with the IRS. There are many companies that provide this service for reasonable prices, and there are many advantages to E-filing IRS 1099-MISC, including greater efficiency, less chance for error, and quicker processing times.

If you have contract or freelance workers performing services for you or your company, remember to file 1099-MISC if you paid them at least $600. This is the form that they will be looking for at the beginning of the tax season, and, as is always the case when dealing with the IRS at tax time, time is of the essence. Make sure that you get your forms completed and filed on time, and don’t forget to sign and date them in order to avoid unnecessary and unwanted penalties and fees. Happy filing!

Filing A Federal 1099 Form Online Is Easy

Posted by Admin on 13. September 2013 07:01

If there is one time of year when people around the country collectively start to worry, it would be around tax time. Let’s be honest: no one likes doing their taxes. Even those who are lucky enough to get by filling out a 1040EZ still find themselves double and triple checking to make sure they have not missed a field or miscalculated a number.

Those who routinely work with independent contractors are certainly familiar with a federal 1099 form. These forms are used to report to the IRS monies paid to workers who are not directly employed by a company. These workers – sometimes called freelancers – work for themselves or own their own businesses. Writers, maintenance personnel and technology support staff can all be examples of independent contractors. As many businesses routinely set aside work to be done by someone else, there is a good chance that your company is required to fill out a 1099 form.

When to File A 1099?

There are several reasons why you might fill out a federal form 1099, but one of the most common occurs when you outsource work to a person who does not work directly for your company. Other reasons you might file a 1099 might be to report the cancellation of a debt (1099-C), to report interest income (1099-INT) or to report proceeds from the sale of real estate (1099-S). There are over 20 different variations of the 1099 form, so to become more familiar with them and to learn whether or not any of them apply to your specific situation, visit the IRS website or contact an agent through their toll-free helpline.

How to File Form 1099?

The federal government requires that a federal 1099 form be filled out every time a transaction occurs. This means that every time you hire a contractor, earn interest on a savings account or sell a house, you must file a 1099. As you can imagine, filling out paper forms to later be mailed can be time consuming and even expensive. Thankfully, there is an alternative.

The Internet has changed the way we do so many everyday things, from buying products to finding doctors. When it comes to taxes, the Internet allows us the opportunity to file a variety of forms – without ever mailing a sheet of paper.

The question now is:  How to file form 1099 online? The first step is visiting the IRS’ official website, which can be found at www.irs.gov. The system that will be used is called FIRE, or Filing Information Returns Electronically. In order to use FIRE, you must have an accounting program that the system supports, as the IRS does not have fillable forms online. These forms must be submitted by the end of February, with copies going to contractors (if necessary) by the end of January.

You’ve now learned why and how to file form 1099. Tax time will always be a stressful time, but now that you know that the Internet provides a great way to quickly and easily file important documents and forms, you can relax just a bit.

IRS Form 1099 Explanation of Deadline

Posted by Admin on 12. September 2013 18:02

An information return is a tax document businesses are required to file to report certain business transactions to the Internal Revenue Service (IRS). The requirement to file Information Returns is mandated by the Internal Revenue Service and associated regulations. Any person, including a corporation, partnership, individual, estate, and trust, who make reportable transactions during the calendar year, must file information returns to report those transactions to the IRS. Persons required to file Information Returns to the IRS must also furnish statements to the recipients of the income. Filers who have 250 or more must file these returns electronically. File IRS Form 1099 MISC, Miscellaneous Income, for each person possession, or a foreign government; and to whom you have paid during the year:

At least $10 in royalties or broker payments in lieu of dividends or tax-exempt.

At least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or generally, the cash paid from a notional principal contract to an individual, partnership, or estate; payment card and certain other types of payment, including

Any fishing boat proceeds

Gross proceeds of $600 or more paid to an attorney.

In addition, use Form 1099 MISC to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment. You must also file Form 1099 MISC for each person from whom you have withheld any federal income tax under the backup withholding rules regardless of the amount of the payment. The Form 1099 MISC is a multi-part form.

Copy A is submitted to the IRS by the payer

Copy 1 is submitted to the state tax department by the payer

Copy B is for the recipient

Copy 2 is given to the recipient for filing with the state tax return.

Copy C is kept by the payer.

Form 1099 MISC for Tax Year 2011 Copy A filing with IRS (paper filers) Due date: Feb 28, 2012, Electronic filers - April 2012. With e-file you don't need to file Form 1096 Form 1099 MISC for Tax Year 2011 Copy B Due date to recipient: Jan 31, 2012, If Payments reported on Box 8 (Substitute payments in lieu of dividends or interest) and Box 14 (Gross proceeds paid to an attorney), Due Date: Feb 15, 2012 Difference between a 1099 and a W-2 : There are two forms of income statement which most people who earn money in the United States are familiar with. These would be the W-2 and the 1099 , and are often confused with each other. There are variations of both forms, which are used for similar purposes. Here is the definition of each and how they are different. 

Both the 1099  tax form and the W-2 Earnings Statement are tax filing forms used by the United States Internal Revenue Service for reporting taxable income. The 1099  tax form is used to report monetary distributions. The W-2 is used to report wages paid to employees plus the taxes paid for those wages. There are variations in the uses of these forms as we will see next. 

The IRS form 1099  is used in place of form W-2 when a company or agency needs to report payments to an individual who is not an employee. A 1099  tax form is also used in showing multiple distributions to individuals, such as a company which pays multiple freelance contractors. This is similar to multiple W-2's showing payments to employees of a business or organization. An example of this would be a nonprofit organization or a factory. 

As of 2009 there are 18 variations of a 1099  tax form. The most common types used are the 1099  MISC (for miscellaneous income), 1099  INT (for interest payments) and 1099  R (for retirement income). Fortunately there is only one type of W-2. For people who have retired this can be confusing as now they must know which 1099  they need, where before all they needed was a single W-2 from each employer they work for. For help with this the IRS has a page with information and a list of publications. That link will be listed in the resource section. 

Who uses which form? 

An example of who would use a 1099  form would be a business which uses independent contractors. Another example of use would be payments from a pension or retirement plan. Casinos and racetracks also send 1099  forms to winners. If you filled out a time sheet for a company, you are an employee and they should hand you a W-2. If you need to pay FICA taxes or report income to the Social Security Administration you would use a W-2 unless you own the business then you would file directly with the state of incorporation. If you work for a staffing agency, the agency will owe you a W-2 not a 1099 .W-2's and 1099 's are similar in use, and even look similar on paper. The main difference between the two is the income dispersion method. Make sure you use the correct form for your situation as many companies may look at you as an independent worker to save on taxes. 1099 Penalties & Deadlines The following penalties will be in effect for the year 2011 

$60 penalty for filing a 1099  more than 30 days late and before August 1 

$100 penalty for filing a 1099  on or after August 1 

$250 penalty for intentional failure to file 

 

Deadlines for 1099 -MISC Forms 

Provide the recipient with his or her copy of the Form 1099 -MISC by January 31 reporting income for the previous calendar year. Or electronically file 1099 s with the IRS by March 31. Businesses can request a 30-day extension to file 1099 s with the IRS using Form 8809. An extension does not permit additional time for providing the 1099  to the recipient.

 

Who Must File a 1099 ?

Any person, including a corporation, partnership, individual, estate, and trust, who make reportable transactions during the calendar year, must file information returns to report those transactions to the IRS. Persons required to file Information Returns to the IRS must also furnish statements to the recipients of the income. Filers who have 250 or more must file these returns electronically.

 

File Form 1099 MISC, Miscellaneous Income, for each person possession, or a foreign government; and to whom you have paid during the year:

At least $10 in royalties or broker payments in lieu of dividends or tax-exempt.

At least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or generally, the cash paid from a notional principal contract to an individual, partnership, or estate; payment card and certain other types of payment, including

Any fishing boat proceeds.

Gross proceeds of $600 or more paid to an attorney.

In addition, use Form 1099 MISC to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment. You must also file Form 1099 MISC for each person from whom you have withheld any federal income tax under the backup withholding rules regardless of the amount of the payment.

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