1099

Monday, January 31st, 2011

2010 1099 INT – 2011 1099 Interest: File and Print 2010 1099 INT | E File 1099 INT

 

Use our 1099 interest software to print 2010 1099 INT forms and Electronically File 2010 1099 INT forms with the IRS in year 2011. Download a FREE 1099 software demo by visiting http://www.realtaxtools.com/download.html

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Year after year, small businesses and accounting firms rely on W2 Mate to process tens of thousands of accurate and timely 1099 and w2 returns with the IRS and Social Security Administration. W2 Mate software has some of the best 1099 software reviews in the industry.

Send Copy B of 2010 1099-INT to the recipient by January 31, 2011.

For 1099-INT  Copy A, the Internal Revenue Service (IRS) Regulations state the following:

“File Copy A of this form (2010 1099 INT) with the IRS by February 28, 2011. If you file electronically, the due date is March 31, 2011. To file electronically, you must have software that generates a file according to the specifications in Pub. 1220, Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically. IRS does not provide a fill-in form (1099 interest form) option.”

File 2010 Form 1099-INT, Interest Income, for each person:

1. To whom you paid amounts reportable in boxes 1, 3, and 8 of at least $10 (or at least $600 of interest paid in the course of your trade or business described in the instructions for Box 1.
2. For whom you withheld and paid any foreign tax on interest, or
3. From whom you withheld (and did not refund) any federal income tax under the backup withholding rules regardless of the amount of the payment.

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Sunday, January 30th, 2011

2010 1099 DIV – 2011 1099 Dividend: File & Print 2010 1099 DIV | E File 1099 DIV

Tomorrow Monday January 31 is the deadline for Mailing 1099 DIV forms for 2010 / 2011. Our 1099 dividend software helps businesses prepare, print and E File and create ready to mail 2010 1099 DIV forms in 2011. Try our 1099 DIV FREE by clicking the button below:

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The Internal Revenue (IRS) Regulations state the following:

“File Copy A of this form (2010 DIV) with the IRS by February 28, 2011. If you file electronically, the due date is March 31, 2011. To file electronically, you must have software that generates a file according to the specifications in Pub. 1220, Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically. IRS does not provide a fill-in form (1099 dividend form) option.”

Caution: Because paper forms are scanned during processing, you cannot file with the IRS Forms 1096, 1098, 1099, 3921, 3922, or 5498 that you print from the IRS website. You can use our software to print and file 1099-DIV forms and other 1099 forms including 1099-MISC, 1099-INT, 1099-R, W-2 and W3.

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Friday, January 28th, 2011

Wisconsin 1099 E File | Wisconsin 1099 Electronic Filing | Publication 1220

 

Our 1099 software allows Wisconsin businesses and tax professionals comply with the Wisconsin Department of Revenue regulations for 1099 Electronic Filing (1099 e-File). Effective January 1, 2011 for 2010 information returns, Wisconsin will add a field to the IRS publication 1220 specifications for 1099-Rs and 1099-Misc. This field is composed of the 15 digit Wisconsin Tax Account Number and begins at position 663 (Special Data Entries) of the B record.

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Our W2 Mate W2 / 1099 software complies with Wisconsin regulations for 1099 Electronic Filing including the 15 digit Wisconsin Tax Account Number in the B record.

Reporting electronically is mandatory if you are transmitting 50 or more documents to Wisconsin.

Wisconsin also encourages small employers to use the option of electronically transferring  data to the Department of Revenue (DOR) through the DOR web site at www.revenue.wi.gov. The department does not accept physical media such as cartridges, 9-track magnetic tape, diskettes or CD-ROM.

W2 Mate is a powerful W2 / 1099 software that supports a number of forms including 1099-MISC, 1099-INT, 1099-DIV, 1099-R, W-2 and W-3. To read about the full capabilities of W2 Mate, please visit the 1099 software page.

Payers or transmitters who will be transferring files electronically to the Wisconsin DOR do not need to request prior authorization.

1099-R and 1099-Misc are due to the Wisconsin DOR February 28, 2011 (March 15, 2011 for corporations reporting rents or royalties).

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Monday, January 17th, 2011

2011 1099 Instructions: 2010 1099 Instructions for MISC, INT, DIV and R

 

In this post we will cover 2011 / 2010 1099 Instructions including 2010 1099 MISC Instructions, 2010 1099 DIV instructions, 2010 1099 INT Instructions and 2010 1099-R instructions.

Our 1099 tax software helps businesses create, print, paper file and electronically file forms 1099 for tax year 2010 in 2011. Our software supports 2010 / 2011 1099-MISC, 2010 / 2011 1099-INT, 2010 / 2011 1099-DIV and 2010 / 2011 1099-R. A FREE demo of the software can be downloaded by clicking the button below.

 

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Below are the 2010 1099 instructions (2011 1099 instructions for tax year 2010):

2011 1099-MISC Instructions – 2010 1099-MISC Instructions (Miscellaneous Income)

Due dates: Furnish Copy B of form 2010 1099-MISC to the recipient or contractor by January 31, 2011. The due date is extended to February 15, 2011, if you are reporting payments in boxes 8 (Substitute payments in lieu of dividends or interest) or 14 (Gross proceeds paid to an attorney).File Copy A of the 2010 / 2011 1099 MISC with the IRS by February 28, 2011. If you file electronically, the due date is March 31, 2011. To file electronically, you must have 1099 MISC E-File software like W2 Mate that generates a file according to the specifications in Pub. 1220, Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, and W-2G Electronically. The internal revenue service does not provide a fill-in form option.

You are required to file Form 1099-MISC (Miscellaneous Income) for each person to whom you have paid during the year: At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest; At least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish, or, generally, the cash paid from a notional principal contract to an individual, partnership, or estate;  Any fishing boat proceeds; or Gross proceeds to an attorney.

Where to mail 2010 1099-MISC (in 2011): 

Alabama, Arizona, Arkansas, Connecticut, Delaware, Florida, Georgia, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Texas, Vermont, Virginia, and West Virginia: Send to Department of the Treasury Internal Revenue Service Center Austin, TX 73301.

Alaska, California, Colorado, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, North Dakota, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Utah, Washington, Wisconsin, and Wyoming: Send to Department of the Treasury Internal Revenue Service Center Kansas City, MO 64999.

2011 1099-INT Instructions – 2010 1099-INT Instructions (Interest)

Furnish Copy B of form 1099-INT for tax year 2010 (filed in 2011) to the recipient by January 31, 2011. File Copy A of form 1099 INT with the Internal revenue Service by February 28, 2011. If you file 1099s electronically through IRS FIRE system, the due date is March 31, 2011. To file 1099-INT electronically, you must have electronic filing software that generates a file according to the specifications in Pub. 1220, Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, and W-2G Electronically. IRS does not provide a fill-in form option. You can use our 1099-INT software to print and e-File 1099-INT.

If the recipient is a nonresident alien, you may have to withhold federal income tax and file Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding. See the Instructions for Form 1042-S and Pub. 515, Withholding of Tax on Nonresident Aliens and Foreign Entities. If you received mortgage interest in the course of your trade or business, you may have to report it to the payer of such mortgage interest and to the IRS on Form 1098, Mortgage Interest Statement. Do not report mortgage interest to the payer on Form 1099-INT. See the instructions for Form 1098 for information on reporting mortgage interest.

2011 1099-DIV Instructions – 2010 1099-DIV Instructions (Dividend)

Because paper forms are scanned during processing, you cannot file with the IRS Forms 1096, 1098, 1099

, 3921, 3922, or 5498 that you print from the IRS website.

Box 1a. Shows total ordinary dividends that are taxable.
Box 1b. Shows the portion of the amount in box 1a that may be eligible for the 15% or zero capital gains rates.
Box 2a. Shows total capital gain distributions from a regulated investment company or real estate investment trust.
Box 2b. Shows the portion of the amount in box 2a that is unrecaptured section 1250 gain from certain depreciable real property.
Box 2c. Shows the portion of the amount in box 2a that is section 1202 gain from certain small business stock that may be subject to a 50% exclusion and certain empowerment zone business stock that may be subject to a 60% exclusion.
Box 2d. Shows 28% rate gain from sales or exchanges of collectibles.
Box 3. Shows the part of the distribution that is nontaxable because it is a return of your cost (or other basis).
Box 4. Shows backup withholding.
Box 5. Shows your share of expenses of a nonpublicly offered regulated investment company, generally a nonpublicly offered mutual fund.

Furnish Copy B of 2010 1099-DIV form to the recipient by January 31, 2011. File Copy A 1099-DIV with the IRS by February 28, 2011. If you file 1099-DIV electronically, the due date is March 31, 2011.

2011 1099-R Instructions – 2010 1099-R Instructions (Retirement)

Form 1099-R is also called Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.

Generally, distributions from pensions, annuities, profit-sharing and retirement plans (including section 457 state and local government plans), IRAs, insurance contracts, etc., are reported to recipients on Form 1099-R.

Because paper forms are scanned during processing, you cannot file with the IRS Forms 1096, 1098, 1099, 3921, 3922, or 5498 that you print from the IRS website.

File Copy A of this form with the IRS by February 28, 2011. If you file electronically, the due date is March 31, 2011. To file electronically, you must have software that generates a file according to the specifications in Pub. 1220, Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically. IRS does not provide a fill-in form option.

If you use enterprise accounting software (QuickBooks, MAS 90, MAS 200, MAS 500, PeopleSoft, Microsoft Dynamics, Microsoft Great Plains, Peachtree) you can benefit a lot from using our 1099 software by saving time and money.

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Form 1099 Software for 2010 , 2011 , 2012

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Monday, November 29th, 2010

1099 Misc Rules | 2010 1099 Misc Instructions | 1099-Misc Rules For 2010

  

Meet 1099 MISC RULES by using our 1099 MISC Software. Use our software to file, print, email, eFile and issue 1099-MISC forms. See for yourself by downloading FREE 1099 Software trail from the link below.

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Below are the 1099 MISC Rules:

The 1099 MISC Rules state that you need to issue Form 1099-MISC to each person you have paid during the year: At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest; At least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance proceeds, cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish, or, generally, the cash paid from a notional principal contract to an individual, partnership, or estate; Any fishing boat proceeds; or Gross proceeds to an attorney.

The 2010 1099 MISC Rules also list the types of payments to include in each box of the 1099 Misc form:

1099 MISC Box 1. Rents
1099 MISCBox 2. Royalties
1099 MISCBox 3. Other Income
1099 MISCBox 4. Federal Income Payroll Tax Withheld
1099 MISCBox 5. Fishing Boat Proceeds
1099 MISCBox 6. Medical and Health Care Payments (refer to 1099 MISC Rules available from IRS.GOV)
1099 MISCBox 7. Nonemployee Compensation
1099 MISCBox 8. Substitute Payments in Lieu of Dividends or Interest
1099 MISCBox 9. Payer Made Direct Sales of $5,000 or More
1099 MISCBox 10. Crop Insurance Proceeds
1099 MISCBox 13. Excess Golden Parachute Payments
1099 MISCBox 14. Gross Proceeds Paid to an Attorney
1099 MISCBox 15a. Section 409A Deferrals (refer to 1099 MISC Rules for 2010 available from IRS.GOV)
1099 MISCBox 15b. Section 409A Income
1099 MISCBoxes 16 through 18. State Information

The 2010 1099 MISC Rules also state that you need to issue Copy B of form 1099 MISC  to the recipient by January 31, 2011. File 1099 MISC A Form, as well as Form 1096 with the IRS by February 28, 2011. 1099 Misc A and 1096 (Annual Summary and Transmittal) Forms are required to be an official red ink scannable form if submitting paper forms by mail. If you file electronically, the 1099 rules state that the due date is extended to March 31, 2011. Electronically file 2010 1099 Misc forms using W2 Mate. W2 Mate is 1099 software that generates a file according to the specifications in IRS Pub. 1220.

1099 MISC Rules for mailing 2010 1099 MISC :

Mail IRS 2010 1099 MISC form by the 1099 due date to: Department of the Treasury Internal Revenue Service Center Austin, TX 73301. If your principal business, office or agency, or legal residence in the case of an individual, is located in Alabama, Arizona, Arkansas, Connecticut, Delaware, Florida, Georgia, Kentucky, Louisiana, Maine, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, Texas, Vermont, Virginia, West Virginia

Mail 2010 1099-MISC to: Department of the Treasury
Internal Revenue Service Center
Kansas City, MO 64999

If your principal business, office or agency, or legal residence in the case of an individual, is located in (Alaska, California, Colorado, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, North Dakota, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Utah, Washington, Wisconsin, Wyoming.

Comply with IRS 1099 MISC rules and regulation when you use our 1099 program. Find more information about our software online at our 1099 software page or evaluate our 1099 filing software for yourself by clicking the FREE 1099 SOFTWARE DOWNLOAD button below.

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