Late 1099 originals
Steps to Handle Late 1099 Filings: 1. File as Soon as Possible: Even if the filing deadline has passed, submit […]
November 25, 2024
Difference between 1-step and 2-step corrections
1-Step Correction A 1-step correction is a direct correction of the original error in a single submission. This typically occurs
Form 1099-DIV ‘B’ records contain a dollar amount in Payment Amount Field 2; therefore, Payment Amount Field 1 cannot contain a zero dollar amount.
The error message indicates an issue with the way Form 1099-DIV is being filed, specifically with how dividend amounts are
Are referral fees or finder’s fees reportable on a 1099-NEC?
Yes, referral fees or finder’s fees are generally reportable on a Form 1099-NEC if they meet certain conditions. Here’s what
What types of services qualify for 1099-NEC reporting?
The Form 1099-NEC (Nonemployee Compensation) is used to report payments of $600 or more made to nonemployees for services performed
Understanding Record T, A, B, C, and F
When filing 1099 forms electronically through the IRS FIRE (Filing Information Returns Electronically) system, the file must adhere to specific