1099 Software- How To E-file 1099 Int

1099 Int forms report interest income paid to individuals

. The IRS requires payers to file 1099 Int forms with their office. The forms you will be filing with the IRS are 1099 INT copy A and 1096. Payers can choose to mail paper forms to the IRS or to electronically file their 1099 Int forms. You can file electronically through Filing Information Returns Electronically System (FIRE System) you will be required to have software that produces a file in the proper format according to Pub. 1220. The IRS requires payers filing 250 forms or more to electronically file. This rule applies to each type of 1099 form separately.

1099 forms must be issued to recipients by January 31st. The IRS requires electronically filed forms to be submitted no later March 31st.

Use 1099 software to make the e-filing process easier and to comply with federal submission standards. For first-time filers, you will need to register with the IRS. The IRS will assign you a Transmitter Control Code. This is an identification code you will use when e-filing using the FIRE System. Apply for this code by filling out IRS form 4419.

1099 software allows the user to generate, print and file 1099 Int forms. To e-file your forms follow these simple steps below:

Step 1. Click company, new company, enter company name

Step 2. In the next screen enter the company address, EIN and state ID if applicable

Step 3. Click 1096 information (third tab) enter the contact persons name, phone number and email address. Enter the filers name if different from the company name. For instance the filers name may be different than the company if you are a tax preparer.

Step 4. Click 1099 recipients, new recipient, enter the recipients Social Security Number, type of 1099 received, name and address.

Step 5. Click 1099 forms. In this screen, to the left, you should see the recipient information already populated. On the right side of the screen you will enter totals in the boxes that apply to this recipient.

Step 6. Create the e-file submission. In the 1099 program click e-filing then choose 1099 Int forms. A box will pop up for you to enter the submitters information. Enter the submitters name, TCC, transmitters company name and address. Then enter the contact persons information including name, number and email address. The last item to complete is the location to where you want to save the submission file.

Step 7. After you have saved the submission file you will proceed to the IRS/FIRE website and efile 1099 INT forms directly with the IRS. The IRS will send a confirmation that the file received. The1099 Software does give you a choice to send a test file to the IRS first if you prefer.

by: Lisa H

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