Employers working with at least one independent contractor must ensure compliance to avoid penalties.
FAYETTEVILLE, AR and DALLAS, TX / ACCESSWIRE / January 31, 2024 / The clock is ticking, and the deadline to eFile your essential federal and state forms is TODAY! If you still need to submit your 1099-NEC, W-2, 941, 940, or any other 10 and 9 series forms, now is the time to act. Tax1099, a prominent and rapidly expanding independent eFiling platform, emerges as a beacon of convenience, offering support for over 44 federal forms in the 10 and 9 series. They also facilitate state e-filing for combined federal/state filings or separate filings. Plus, you can file Form 8890 to extend the deadline for filing 1099 and W-2 Forms. The platform is open until midnight to process all your submitted forms.
Forms with a Deadline of JANUARY 31, 2024:
Here is a list of different forms with a deadline of January 31, as per the IRS website:
1099 Series:
1099-NEC, 1099-MISC, 1099-K, 1099-B, 1099-DIV and others
Payroll Forms:
94X - 940, 941 & 941-PR (4 th Quarter), 943, 944, 945
Wage & Tax Statements- W-2, W-2C, W-2VI, W-2GU
ACA Forms:
1095-B, 1095-C (recipient copy)
Form 1098 (Recipient Copy)
Note : Filers may request a 30-day extension to file Forms W-2 and 1099 with SSA by submitting Form 8809, Application for Extension of Time to File Information Returns, by January 31.
Tax1099 offers robust features such as real-time TIN matching, bulk filing, integration with over 12 platforms, address validation, and more. These capabilities can help businesses streamline their filing process, ensure the accuracy of their tax submissions, save valuable time, and prevent delays.
As the January 31 deadline for filing IRS Forms 1099, 94X, and W2 is today, filers are reminded of several small but important changes that may necessitate changes to your systems and processes.
What's New This Tax Season?
Starting January 1, 2024, businesses and fillers with 10 or more Forms 1099 and W-2 must file electronically and may be subject to penalties if paper forms are filed unless a waiver is requested.
The IRS has postponed the implementation of the $600 reporting threshold for Form 1099-K until the 2024 tax year. For 2023 and earlier, only individuals receiving over $20,000 and conducting more than 200 transactions will receive Forms 1099-K.
Failure to comply with regulations may result in penalties. Detailed instructions for filing can be found on the IRS website, and it's crucial for businesses, especially those with independent contractors, to meet the January 31 deadline to avoid penalties.
As of January 2024, the IRS released an updated edition of the 2023 Form 1099-NEC, Nonemployee Compensation, which is now designed for continuous use. It's essential to ensure that you're utilizing the most recent version of the form.
Tax1099 can take care of these changes and more for you, help you file them on time and avoid hefty penalties.
Let's explore the Features & Functionalities of Tax1099 that can enhance your 1099 form filing experience:
Streamlined Compliance Solutions:
TIN Verification: Instantly verify EIN/SSN details in real-time, ensuring accuracy and compliance at the speed of your business.
W-9 Collection: Collect W-9 forms effortlessly via Tax1099's web app or API, ensuring you have all necessary taxpayer information at your fingertips.
Integration and Automation:
Integration with Major Accounting Applications: Enjoy hassle-free integrations with 12+ leading accounting applications, including QuickBooks Online, QuickBooks Desktop, Zoho, Sage Intacct, Xero, FreshBooks, Bill.com, and more.
Extensive Integration Capabilities: Integrate Tax1099 with other platforms, enhancing workflow efficiency and data synchronization.
Automated Notice Handling: Stay organized with automated notice management and audit features, simplifying compliance tasks and minimizing errors.
AI-powered Tax Assistance:
Zenwork AI Tax Assist relies on verified IRS publications and Tax1099.com for accurate data sourcing, minimizing errors and ensuring reliability.
Enjoy multi-channel support , instant answers to tax queries, and convenient meeting scheduling, all within the same chat window, tailored for businesses handling over 1000 filers. Plus, effortlessly submit 1099-NEC & 1099-MISC forms directly through the chat window, streamlining the filing process.
Efficient Workflow Management:
Workflow and Rights Control: Manage workflows and user rights efficiently with Tax1099's intuitive Workflow and Rights Management features.
Scheduled eFiling in Advance: Avoid last-minute stress and plan ahead of time by scheduling your eFiling with Tax1099.
With its hallmark features of quick 1099 eFiling, IRS-compliant eDelivery, timely deadline reminders, and dedicated round-the-clock customer support, Tax1099 stands as a trusted and most reliable platform for eFiling.
About Tax1099: Tax1099, an IRS-authorized digital tax compliance service, simplifies tax filing for over 50,000 businesses nationwide. Offering 40+ federal and state-compliant electronic returns, 12+ data management integrations, API integration, secure document management, Bulk filing, and 24/7 customer support, Tax1099 is a leading tax filing solution provider.
About Zenwork Inc: Zenwork Inc., the parent company of Tax1099 and backed by Spectrum Equity, is a key player in digital tax compliance and regulatory reporting technology. With a decade of experience, Zenwork Inc. has assisted over 150,000 businesses and 30,000 CPA firms in simplifying compliance. Learn more about Zenwork and its products at www.zenwork.com, www.tax1099.com, and www.compliancely.com.
Contact:
Ed Pratt
Zenwork, Inc.
[email protected]
SOURCE: ZENWORK INC