{"id":441,"date":"2010-08-09T16:27:11","date_gmt":"2010-08-09T20:27:11","guid":{"rendered":"http:\/\/www.realtaxtools.com\/Payroll-1099\/?p=441"},"modified":"2010-08-09T16:27:11","modified_gmt":"2010-08-09T20:27:11","slug":"1099-electronic-filing-irs-releases-e-filing-specs-for-2010-1099s","status":"publish","type":"post","link":"https:\/\/www.realtaxtools.com\/Payroll-1099\/1099\/1099-electronic-filing-irs-releases-e-filing-specs-for-2010-1099s\/","title":{"rendered":"1099 Electronic Filing: IRS Releases E-Filing Specs for 2010 1099s"},"content":{"rendered":"

\u00a0<\/span><\/span><\/h3>\n

Our <\/span>1099 software<\/a> includes full support for 2010 1099 e-filing in accordance with IRS publication 1220 Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, 8935 and W-2G Electronically. To download a free demo, please visit the 1099 software download <\/a>page.\u00a0<\/span><\/span><\/h3>\n

<\/strong>General Changes for Tax Year 2010 1099 E-Filing<\/span><\/em><\/p>\n

(1) Under the Combined Federal\/State Filing Program, the Form 6847 was obsoleted. IRS no longer requires this Form as part of the Combined Federal\/State Filing Program. For approval to participate in the Combined Federal\/State Filing Program test filing is still required.<\/p>\n

(2) Change in contact name from IRS\/ECC-MTB to IRS\/IRB (Information Returns Branch), Information Reporting Program to Information Returns Branch and added Mail Stop 4300 to mailing address.<\/p>\n

Programming Changes for Tax Year 2010 1099 E-Filing<\/span><\/em><\/p>\n

(1) For all Forms, Payment Year, Field Positions 2\u20135, for the Transmitter \u201cT\u201d Record, Payer \u201cA\u201d Record and Payee \u201cB\u201d Record must be incremented to update the four-digit reporting year (2009 to 2010), unless reporting prior year data.<\/p>\n

(2) Payer \u201cA\u201d Record moved the Combined Federal\/State Indicator from field position 26 to field position 6.<\/p>\n

(3) Payer \u201cA\u201d Record, expanded Type of Return field from a one position to a two position field. Previously the field position was 27, now it is field positions 26\u201327.<\/p>\n

(4) New Form 1097-BTC, Bond Tax Credit.<\/p>\n

In the Payer \u201cA\u201d Record added:
\n\u2014field positions 26\u201327 Type of Return added new code BT,
\n\u2014field positions 28\u201341 Amount Codes add 3 for \u2018Stated Principal\u2019, 4 for \u2018March 15, 2010 Allowance Date Credit\u2019, 5 for \u2018June 15, 2010 Allowance Date Credit\u2019, 6 for \u2018September 15, 2010 Allowance Date Credit\u2019, and 7 for \u2018December 15, 2010 Allowance Date Credit\u2019.<\/p>\n

In the Payee \u201cB\u201d Record added:
\n\u2014field position 547 for Issuer indicator, 1 indicates \u2018Issuer of Bond or Its Agent Filing Initial 2010 Form 1097-BTC for this bond\u2019, 2 indicates \u2018An Entity that received a 2010 Form 1097-BTC for this Bond\u2019
\n\u2014field positions 548\u2013555 for Bond Issue Date, format YYYYMMDD
\n\u2014field positions 556\u2013563 for Maturity Date, format YYYYMMDD
\n\u2014field positions 564\u2013576 for CUSIP Number
\n\u2014field positions 608\u2013610 Bond Code:<\/p>\n

101 Qualified Forestry Conservation Bonds
\n102 New Clean Renewable Energy Bonds
\n103 Qualified Energy Conservation Bonds
\n104 Qualified Zone Academy Bonds
\n105 Qualified School Construction Bonds
\n106 Clean Renewable Energy Bonds
\n107 Midwestern Tax Credit Bonds
\n108 Other
\n109 Build America Bonds
\n\u2014field positions 611\u2013619 for Bond Issuer\u2019s Identification Number
\n\u2014field positions 620\u2013659 for Bond Issuer\u2019s Name<\/p>\n

(5) Form 1098-C, Payee \u201cB\u201d Record changed the Goods and Services from field positions 731\u2013748 to field positions 731\u2013746 reducing the field length from 18 to 16 positions.<\/p>\n

(6) Forms 1099<\/a> INT, Payee \u201cB\u201d Record new field added. Field title CUSIP Number in field positions 587\u2013599.<\/p>\n

(7) Form 1099 R, Payee \u201cB\u201d Record field positions 545\u2013546, added new distribution codeWfor \u2018Charges or payments for purchasing qualified long-term care insurance contracts under combined arrangements\u2019, changed code 6 description to \u2018Section 1035 exchange (a tax-free exchange of life insurance, annuity, qualified long-term care insurance, or endowment contracts)\u2019, and changed code E description to \u2018Distributions under Employee Plans Compliance Resolution Systems (EPCRS)\u2019. Distribution code W can be used with code 6.<\/p>\n

(8) Form 3922, Payer \u201cA\u201d Record, field positions 28\u201341, add Amount Code 8, Exercise Price per Share Determined as if the Option was Exercised on the Date Option Granted.<\/p>\n

(9) Form 5498, Payer \u201cA\u201d Record, field positions 28\u201341 Amount Codes, deleted Amount Code E, Other Contributions and deleted the corresponding Bankruptcy Code in field positions 560\u2013561 of the Payee \u201cB\u201d Record.<\/p>\n

Check out our 1099 electronic filing software <\/a>and see how easy it\u2019s to e-file 1099\u2019s.<\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Our 1099 software includes full support for 2010 1099 e-filing in accordance with IRS publication 1220 Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, 8935 and W-2G Electronically. To download a free demo, please visit the 1099 software download page.\u00a0 General Changes for Tax Year 2010 1099 E-Filing (1) Under the Combined Federal\/State … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-441","post","type-post","status-publish","format-standard","hentry","category-4"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/posts\/441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/comments?post=441"}],"version-history":[{"count":5,"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/posts\/441\/revisions"}],"predecessor-version":[{"id":446,"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/posts\/441\/revisions\/446"}],"wp:attachment":[{"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/media?parent=441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/categories?post=441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realtaxtools.com\/Payroll-1099\/wp-json\/wp\/v2\/tags?post=441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}