IRS Form 1099 refers to the type of information return. Basically you have to report the information from a 1099 on your tax return. It is the most important form to your tax return. The form 1099 is matched to your Social Security number, so the IRS can easily prepare a tax bill in case you are unable to report. Also you are guaranteed an audit or tax notice in case you fail to report a Form 1099. The filing date for form 1099 has been changed by IRS and it is six years to audit by IRS instead of three years. User can also check How to Electronically File and Pay Payroll Taxes in QuickBooks .
We had posted step by step instruction for QuickBooks 1099 Form Filing .
|Form Type||Form Description||Reporting Requirement||Receive By|
|1099-A||Acquisition or Abandonment of Secured Property||Any amount||January 31|
|1099-B||Proceeds From Broker and Barter Exchange Transactions||Any amount||February 15|
|1099-C||Cancelation of Debt||$600||January 31|
|1099-CAP||Changes in Corporate Control and Capital Structure||$100 million||January 31|
|1099-DIV||Dividends and Distributions||$10||January 31|
|1099-G||Certain Government Payments||$10||January 31|
|1099-H||Health Coverage Tax Credit (HCTC) Advance Payments||Any amount||January 31|
|1099-INT||Interest Income||$10||January 31|
|1099-K||Merchant Card and Third Party Network Payments||$20,000||January 31|
|1099-LTC||Long-Term Care and Accelerated Death Benefits||Any amount||January 31|
|1099-MISC||Miscellaneous Income||$600 for non-employee compensation
|1099-OID||Original Issue Discount||$10||January 31|
|1099-PATR||Taxable Distributions Received From Cooperatives||$10
|1099-Q||Payments From Qualified Education Programs||Any amount||January 31|
|1099-R||Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.||$10||January 31|
|1099-S||Proceeds From Real Estate Transactions||$600||January 31|
|1099-SA||Distributions From an HSA, Archer MSA, or Medicare Advantage MSA||Any amount||January 31|
|RRB-1099||Railroad Retirement Board Statement||Any amount||January 31|
|SSA- 1099||Social Security Benefit Statement||Any amount||January 31|
File Copy A of the 1099-MISC form with the IRS by February 28, 2018.
When you file 1099 form electronically, the due date is April 2, 2018. For e-filing you need to have software that creates a file according to the specifications in Pub. 1220.
The penalty if you fail to file electronically and you do not have an approved waiver, the penalty of $50 per return for failure to file electronically until and unless you have a valid reason.
For more details on this you can contact QuickBooks Payroll Support Number or alternatively call to QBPayroll.help. This is one of the top QuickBooks Consulting companies hiring experienced professionals who will provide you all the detailed information for your queries. Call to the toll free number 1844 827 3817 24*7 and fetch best QuickBooks support services.