Track, send and file the 1099 form for your independent contractors and when it's time to file with the IRS then you'll be prepared and stay compliant.
Sometimes the line between an employee and an independent contractor is fuzzy that's why it is important to know the difference between in order to comply with tax rules of the IRS. So, you can take an easy quiz with Quickbooks to determine whether your worker needs A W2 or 1099.
You need to track payments when you pay a contractor for labor on 1099 to stay compliant. Quickbook Online Advance and Quickbook Online Plus tracks every payment that you make with your contractor by creating ready-to-send 1099 format tax-time.
If you pay a vendor or contractor for supplies or equipment rental then Quickbook will easily track those as a separate expense by keeping your payments separate to contractors from expenses. This makes it easy to file and issue accurate 1099 forms for the tax years.
We'll guide you that how to map the payments of your contractor on the 1-99 tax form to the correct boxes and after that, it's all easy to print and mail or email a copy of your contractor.
You can e-file automatically through a single click of the Quickbooks file service for three forms. We are the providers of approved IRS e-file and we’ll transmit the form electronically and securely for you.
You can easily purchase 1099 forms within Quickbooks and directly print them from your printer. However, if you try to choose 1099 forms to print and file by mail then remember that they are due to the IRS till 28th February.
Ans.1099 forms are needed to be mailed by 31st January to vendors and contractors for the payments that are made in the previous tax years. The 1099 forms should be mail along with the 1096 form by 28th January to the IRS.
Ans. the E-filling of your 1099s cannot replace the IRS requirement of providing 1099s to your vendors or contractors. You can also email or download (or print an mail on plain paper) your 1099s forms to contractors if you’re using the intuit of 1099 E-file service.