New Rules for Submission of 1099 Forms – CPA Practice Advisor
An article in CPA Practice Advisor, is entitled “New Rules for Submission of 1099 Forms”. It delineates that: “Starting in January 2019, the IRS will institute new rules regarding how to submit 1099-MISC with Box 7 and those without Box 7 after the due date of January 31, 2019. If submitted improperly, companies may receive penalty notices for their non-Box 7 1099-MISC forms. These new rules apply to both paper and electronic filing.”
It also notes critical updates for 1099-K Filing: “Certain states are starting to require submitting 1099-Ks that have more than $600 in Box 1a Gross Amount, which is far less than the $20,000 minimum required for federal reporting.”
Contact Queue Associates for More Information
Please contact Queue Associates (a Microsoft Dynamics Gold Partner) to learn more about 1099 submission and how to utilize Microsoft solutions to compile data and report accurately. You can reach us by completing the form on our CONTACT page, or by calling the Queue office phone number for your local region (U.S. and Global locations).
