Filing Irs Form 1099 Miscellaneous

On March 23, 2010, the Patient Protection and Affordable Care Act was signed in to

law which significantly expanded IRS Form 1099-MISC information reporting requirements. On April 14, 2011, President Obama signed into law the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 (H.R.4) which repealed the expansion of 1099-MISC information reporting requirements. As a result, the current, or original, 1099-MISC reporting results remain in effect.

Paper Filing and Electronic filing...

IRS Form 1099-MISC can be filed by paper or electronically.

The paper copy of 1099 software-MISC consists of 5-pages where Copy A is sent to the Internal Revenue Service. Copy A has the look and feel of a normal sheet of paper while the other Copies (B, C, 1, 2) are almost like tissue-paper. The 5-pages are connected together by a perforated edge.

The IRS provides the forms for FREE (it's an excellent service!). You can order as many forms as you like by calling 1-800-TAX-FORM (800-829-3676), an IRS provided toll-free number. There is no charge for calling, shipping or handling and they will ship up to 100 forms per calls.

The IRS requires that Copy A be submitted on their special paper with red ink if you submit less than 250 filings a year. If you are submitted more than 250 1099-MISC forms per year, then you must efile.

Due Dates...

Furnish Copy B of this form to the recipient by January 31. The due date is extended to February 15 if you are reporting payments in boxes 8 or 14.

File Copy A of Form 1099-MISC with the IRS by February 28. If you file electronically, the due date is March 31.

Electronically Deliver Copy B...

Printing, folding, stuffing, sealing and postage (44 cents) brings the overall cost of mailing Copy B to recipients to 78 cents or more per mailing, depending on how many mailings you are sending out. There is a cheaper, quicker, easier and more effective way of sending out Copy B to recipients and that is to electronically deliver Copy B.

by: Erich J. Ruth

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