For small businesses, Intuit 1099 E-File service makes the 1099 online forms easy. You can easily and quickly prepare, review, and directly send 1099s to the IRS and your contractor, too, instead of making deals with paper forms. To reduce errors and save time, it mostly works with QuickBooks to handle tax seasons smoothly. You can also stay compliant by taking the help of this service. In this blog, we’ll guide you through all the simple ways of using Intuit 1099 E-File Service in a few steps with a quick solution.
What is Intuit 1099 E-File Service?
The Intuit 1099 E-File Service is one type of tool that works only online to help your business prepare and file a 1099 form with the IRS easily. These forms are made by independent contractors, freelancers, or other non-employees to be used to report payments. A user can e-file, enter the details of payments, and review forms directly to the IRS with the help of this service. Through this feature, you are allowed to send digital or printed copies to contractors. This service is a part of Intuit’s QuickBooks to save time, reduce paperwork, and ensure accuracy.
Key features of Intuit 1099 E-File Service
- Automatic Form Creation.
- Direct E-Filing with the IRS.
- Easy Contractor Copies.
- Safe and Secure Record Keeping.
- State Filing Support.
- Seamless QuickBooks Integration.
- User-Friendly Dashboard.
Key Benefits of Intuit 1099 E-File Service
Here are some steps for the key benefits of Intuit 1099 E-File Service, in the following ways.
- You can save time to create and file 1099 forms online without wasting time on paperwork.
- To use the filing easily, clear the instructions and use simple steps, which will be easier for beginners as well.
- For an accurate filing, the system helps you by checking the errors to avoid IRS mistakes.
- Contractors receive their 1099 forms by instant delivery via email or download.
- Your data is securely in the process of being stored and protected.
- You can track the status of forms when they are sent and accepted by the IRS.
- Work can be done online without requiring any software, like no downloads or installations.
Steps to Use the Intuit 1099 E-File Service
Here are some simple step-by-step instructions on using Intuit 1099 E-file service are mentioned in the following ways.
Step 1: Sign In
- Go to the official site of 1099 Intuit.
- Sign in with your Intuit account or the same one through which you use QuickBooks.
- Click to create a new Account if you don’t have one, and follow the steps.
Step 2: Add Your Business Info
Add the details of your business name, address, and EIN (Employer Identification Number), which will go on the information of 1099 forms when you file.
Step 3: Add Contractors
- Click on the Add Contractor option.
- Enter the name, address, and tax ID of each contractor.
If you use QuickBooks, you can import this info directly from it easily.
Step 4: Enter Payment Amounts
- Enter the amount that you have paid to each contractor during the year.
The info that you have entered will go into an appropriate box on the 1099-NEC or 1099-MISC form.
Step 5: Review Your Forms
- Check whether all the information on names, addresses, amounts, and tax IDs is correctly added or not.
- You can see the preview of the 1099 forms in the system.
Step 6: E-file with the IRS
- Click the E-file of your 1099s to send it to the IRS electronically.
No need to take stress because Intuit can handle the filing for you.
Step 7: Send Copies to Contractors
- Intuit keeps copies of the mail to send them through email of 1099s to your contractors later.
- Confirm delivery after choosing your preferred option.
Step 8: Save and Store Your 1099 Records
- For your business files, download or print your 1099 forms.
- Keep the copies for at least 4 years to save them.
What You Need to File a 1099-NEC Form
Here are some simple step-by-step explanations of what you need to file a 1099-NEC form are mentioned in the following ways.
Your Business Information
You’ll need
- Name of your business.
- Address of your business.
- Employer Identification Number.
- If you’re self-employed, your social security number may be required, not compulsory.
Contractor’s Information
For each person you paid
- Their full name of each contractor.
- Address.
- EIN or Taxpayer Identification Number (TIN).
Tip
You can get information by asking your contractor from W-9 to fill out these forms before paying them.
Payment Details
You must need to know
- Total amount paid $600 or more, if needed, to the contractor during the year.
- The payment was only for services, not for goods or products.
Example
- If $1,200 has been paid by you to a freelancer for design work, then that will go on the 1099-NEC.
Filing Method
You can file
- Through E-file services like Intuit 1099 E-File.
- By sending mail of paper copies to the IRS.
Copies that You’ll Need
There are multiple types of copies of the 1099-NEC.
- Copy A: IRS(Internal Revenue Service).
- Copy B: Contractor.
- Copy C: Keep your records safe for business purposes.
Important 1099-NEC Filing Deadlines to Remember
Here are important 1099-NEC filing deadlines to remember which help you file on time.
- Send to Contractors: Give each contractor their Copy B of the 1099-NEC by January 31.
- File with the IRS: The same January 31 deadline applies for filing with the IRS, whether you e-file or mail paper copies.
- State Deadlines: Some states have different due dates. Check your state’s tax website or use Intuit 1099 E-File, which can handle most state submissions automatically.
Conclusion
Now, you are ready to go ahead to continue your business with Intuit 1099 E-File Service. You don’t need to get stuck in any steps, because we have clearly explained the details of the complete process. If you still have any queries regarding the basics of this topic, then you can take support from our QuickBooks ProAdvisor at any time.