1099-LS Software (Tax Year 2023)
Reportable Life Insurance Sale
Use the software today! Order online and the shopping cart will e-mail you instructions on how to activate the software.
Software
1099-LS Electronic Filing Software
$289.95
Software requires a transmitter control code (TCC) issued by the IRS.
Software imports up to 2,500 records. Additional
10,000 record increments can be purchased by calling
sales at (480) 706-6474.
Outsourcing
Let out trained staff import your data from excel, print and
mail, and electronically file on your behalf using our TCC
number. We work quickly and have experienced staff who
can provide complete, secure outsourcing solutions. Starting as
low as $399.
Outsourcing is a flat efilng fee based on each
excel file up to and including 1,000 records. Please
call our office at (480) 706-6474 for an individual quote.
IRS Form 1099-LS - Life insurance is a contract between an insurance company and an individual policy holder. The policy holder
will make regular premium payments to the insurance company and in exchange, the insurance company will make
a lump-sum payment to beneficiaries upon the insured's death. Death benefits are generally income-tax-free
to the beneficiary.
IRS Form 1099-LS is titled "Reportable Life
Insurance Sale" and reports the amount paid to a payment recipient from a life insurance sale, the date of sale,
and Issuer's name. 1099-LS software makes it easy to import, print and paper or electronically file IRS
Form 1099-LS directly to the IRS.
New Paper/Electronic Filing Threshold...
IRS mandates electronic filing of 10 or more information returns. The new
threshold is effective for information returns beginning tax year 2023. FIRE TCC holders who submitted their TCC application
prior to September 26, 2021, must complete and submit a new application and verify their identity through ID.me, an IRS
provider of sign-in services.
Import...
Simply import the data from Excel. Sample excel worksheets can be downloaded from this site.
Print...
Copy B can be printed with or without instructions and SSN masking. Copy B and C can
be printed on plain paper with black ink or convert to PDF.
File Directly to the IRS...
1099-LS software will generate a file formatted according to Publication 1220, Specifications for Electronic Filing
of Forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G. The system is updated each year to reflect format changes
that are made by the IRS. 1099FIRE is the only company to offer OneTouch E-Filing. One click of a button will
automatically upload data directly to the IRS FIRE system using your login credentials. A receipt of your file will be
displayed on screen.
1099-LS software is valid for the tax year 2023 season and prior tax years. Renewals can be purchased at a reduced cost.
Replacements, Corrections, Prior Years...
Need to file an original or correction for a current or prior year? Not a problem. 1099-LS
software let's you print and electronically file originals, replacements, or corrections for current or prior years.
Due Dates...
Furnish Copy B to the policyholder by January 31. Furnish Copy C of this form to
the issue no later than January 15. April 1 is the due date for electronic filing.
Related Links...
Form 1099-SB Software: Seller's Investment in Life Insurance Contracts
Related...
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1099-LS Reportable Life Insurance Sale, Reportable Life Insurance Sale, Long-term care insurance payments,
Reporting long-term care insurance benefits, Reporting insurance contract payments,
