Welcome to the 1099FIRE Blog: E-Filing News & Resources
Our blog covers IRS updates, 1099-NEC/MISC rules, IRIS vs FIRE, TIN matching, state rules, and software tips.
1042-S Chapter 3 and 4 Status Codes
On Form 1042-S, the Chapter 3 Status Code (Box 12) and Chapter 4 Status Code
How to Minimize Penalties After a Missed Deadline
The IRS charges late filing penalties when businesses miss deadlines for information returns such as
Understanding the Differences Between Forms 1095-B and 1095-C
Under the Affordable Care Act (ACA), certain employers and insurers are required to provide forms
State-Specific 1099 Filing Requirements: What You Need to Know
Navigating 1099 filing requirements across different states is crucial for businesses and individuals to ensure
Alabama 1099 Filing Requirement
Who Must File 1099 Forms in Alabama? Any business or individual conducting business in Alabama
Form 1042-S vs. 1099: Correctly Classifying Payments to Foreign Contractors
When working with independent contractors, one of the most important tax compliance steps is ensuring
What Is IRS Form 8955-SSA and Who Must File It?
If you sponsor or administer a retirement plan, you may be required to file IRS
Form 1095-C Line 14 Codes: Understanding Offer of Coverage Indicators
Employers subject to the Affordable Care Act (ACA) must file Form 1095-C each year to
Real Estate Professionals: Navigating 1099-S Reporting Requirements
If you’re involved in real estate transactions—whether as a broker, title company, attorney, or closing
Form 1099-Q: Understanding Education Savings Plan Distributions
Paying for education is expensive, but thankfully, certain tax-advantaged savings plans can help. If you’ve
You have identified your file as a correction; however, the data is not coded with a ‘G’ or ‘C’ in position 6 of the B record(s).
When filing corrections through the IRS FIRE system, you may see the error:“You have identified
Application Process for a FIRE TCC
If you plan to electronically file information returns with the IRS, you must complete the
W-2C Efficient Corrections: How to Handle Errors Discovered After Filing
Form W-2 is one of the most important information returns employers issue, summarizing wages paid
How to Reconcile Form 1042 With Your 1042-S Filings
Reconciling Form 1042 (Annual Withholding Tax Return for U.S. Source Income of Foreign Persons) with
W-2 Box 12 Codes
Box 12 on Form W-2 lists special codes. These codes report extra types of income,
State of Tennessee and Form 1099-K compliance
Understanding the Tennessee 1099-K filing requirements is essential for payment processors, settlement entities, and businesses
Implications of IRS-ICE Data Sharing
The IRS-ICE data-sharing agreement, signed on April 7, 2025, marks a major change in U.S.
Understanding Form 1099-HC for Massachusetts Residents – Why this form is needed for state healthcare compliance.
Massachusetts residents who file state income taxes may receive Form 1099-HC each year. This form
Casino Compliance: Managing W-2G and 1042-S Reporting for Gambling Winnings
Casinos in the U.S. have specific IRS reporting obligations when it comes to gambling winnings.
How Educational Institutions Should Properly Report Form 1098-T for Tuition Statements
Educational institutions must use Form 1098-T, Tuition Statement to report tuition and related educational expenses.
Understanding IRS Form 1040-NR for Nonresident Aliens
IRS Form 1040-NR is the U.S. tax return used by nonresident aliens to report U.S.-source
How to Handle an IRS CP2000 Notice for Underreported Income
Receiving a CP2000 notice from the IRS can be unsettling. However, it is not an
Cross-Border Payments Compliance: When to Issue Form 1042-S vs. Form 1099
Navigating U.S. tax reporting rules for cross-border payments can be tricky — especially when deciding
ACA Reporting Update: Federal Changes for 1095 Forms
Under the Affordable Care Act (ACA), employers and insurers must file information returns with the
TIN Matching: Ensuring Error-Free 1099s and W-2s
When it comes to filing year-end information returns like Forms 1099 and W-2, accuracy matters.
Restaurant Tip Reporting 101: Year-End Compliance with Form 8027
Restaurants that serve food and beverages where tipping is customary have specific year-end reporting requirements
Mandatory E-Filing: Adapting to the 10-Form Threshold Rule
In an era where digital transformation is reshaping how businesses and organizations interact with the
How Foreign Athletes and Entertainers Are Taxed Using IRS Form 1042-S
Foreign athletes and entertainers who earn income in the United States follow special tax withholding
What Employers Need to Know About the IRS Form 8955-SSA Electronic Filing Mandate
The IRS now requires most employers to electronically file Form 8955-SSA starting with the 2024
FATCA and Form 8966: How High Net-Worth Individuals Are Impacted
The Foreign Account Tax Compliance Act (FATCA) is a U.S. law created to prevent tax
W-2 Box 12 Codes: What They Mean for Your Tax Deductions and Credits
Form W-2, which reports your wages and tax information, includes Box 12, where various codes
Do Fantasy Sports Winnings Get Reported on IRS Form W-2G?
Fantasy sports winnings are usually not reported on IRS Form W-2G. That form is designed
Understanding IRS Form 1099-SA: How Health Savings Account (HSA) Distributions Are Reported
What Is Form 1099-SA? IRS Form 1099-SA is used to report distributions from a Health
Why You Might Receive Form 5498 in May Instead of January
IRS Form 5498, IRA Contribution Information, is used by financial institutions to report contributions, rollovers,
IRS Form 1042-S: Withholding Tax Credit for Foreign Persons
Nonresident aliens (NRAs) can claim a withholding tax credit on Form 1040-NR, U.S. Nonresident Alien
IRS Form 8027 vs. Form 4070: What Restaurant Employees and Owners Need to Know
For restaurant owners and employees, tip reporting is essential for both tax compliance and avoiding
Breaking Down the W-2 Form: What Each Box Means for Your Taxes
The W-2 form is one of the most important tax documents you receive each year.
Understanding Form W-2G for Slot Machine Winnings
Form W-2G is an IRS tax form used to report gambling winnings, including slot machines,
Paperwork Burden Reduction Act
As of 2024, a significant change has been introduced to the delivery requirements for Forms
How to File a 1099 for a Deceased Person or Business That Closed Mid-Year
If you need to file a 1099 for a deceased individual or a business that
State of Tennessee and IRS Form 1099-K Requirement
Tennessee requires businesses that file a 1099-K with the IRS to also submit a copy
Why would an Orchestra file Form 1042-S?
An orchestra must file Form 1042-S when it pays U.S.-source income to nonresident aliens. These
How to Correct a Mistake on Form 592
If you discover an error on California Form 592, you must file a corrected form
How the IRS Matches 1099 Forms to Individual Tax Returns
RS 1099 matching is the process the IRS uses to compare 1099 forms against the
How to File 1099 Forms for Non-US Residents
When working with non-US residents or foreign contractors, businesses often wonder whether they need to
How the 1099 Reporting Process Has Evolved Over the Last Decade
The 1099 reporting process has transformed over the past ten years. Technology, IRS policy changes,
1099 Forms for Deceased Individuals: What Executors Need to Know
Handling tax matters for a deceased individual can be complex, and 1099 forms are often
The Future of 1099 Forms: Will Digital Tax Reporting Replace Paper Forms?
As tax compliance evolves, the move from paper-based filing to digital reporting is accelerating. The
What is blockchain?
Blockchain is a decentralized digital ledger that records transactions securely, transparently, and permanently across multiple
Cryptocurrency & 1099s: Tax Reporting for Digital Assets
Cryptocurrency transactions are now under close IRS scrutiny. With the introduction of IRS Form 1099-DA,