blog
Lower Reporting Threshold for Form 1099-K
If you sell products or services through platforms like PayPal, Venmo, Etsy, eBay, or Shopify, the IRS has introduced a […]
TIN Matching
How to Use IRS Bulk TIN Matching to Avoid Errors
One of the most common reasons businesses receive IRS “B” Notices or CP2100 Notices is because of mismatched names and
National Software
Understanding the IRS Combined Federal/State Filing Program
The IRS Combined Federal/State Filing (CF/SF) Program is designed to simplify information return reporting by allowing businesses to file certain
National Software
State-Specific 1099-K Thresholds: What Businesses Should Know
Form 1099-K is used by third-party settlement organizations (such as PayPal, Stripe, and Venmo) to report payments to businesses and
National Software
Hiring International Contractors? When to Use 1099 vs. 1042-S
Hiring international contractors requires following IRS reporting rules. Whether you issue Form 1099-NEC or Form 1042-S depends on the contractor’s
National Software
IRS Error: Name and SSN Must Match the Database
When filing Forms 1095-B or 1095-C with the IRS, one of the most common rejections occurs when the Name and
Countries With U.S. Income Tax Treaties for Form 1042-S Withholding Credits
The United States has income tax treaties with many countries that may allow nonresident aliens to claim a reduced withholding
What is IRS IRIS?
IRS IRIS stands for the Information Returns Intake System, a new electronic filing platform developed by the IRS to replace
When the IRS Sends a CP2100 Notice
If you file information returns like Forms 1099 and the IRS finds incorrect taxpayer identification number (TIN) and name combinations,
Form 1095-C Coding Guide
Employers filing Form 1095-C must correctly report employee health coverage using Line 14 (Offer of Coverage) and Line 16 (Safe
blog
What to Do If You Missed Filing ACA Forms for a Prior Year – and How 1099FIRE Can Help
Failing to file Affordable Care Act (ACA) information returns—Forms 1095-B, 1095-C, and transmittals 1094-B/C—for a prior year can be stressful.
Form 1099-LTC: Reporting Long-Term Care Benefits
Form 1099-LTC is used to report payments made under a long-term care insurance contract or accelerated death benefits paid to
1099 Forms, IRS Form 1099-DIV, IRS Form 1099-K, IRS Form 1099-NEC, IRS Form 1099-S
1099 Reporting for Real Estate Transactions Beyond Form 1099-S
Form 1099-S is the IRS’s primary form for reporting proceeds from real estate transactions, such as sales or exchanges of
1099 Requirements for Agricultural Businesses
Understanding the 1099 requirements for agricultural businesses is essential for farmers, ranchers, and agribusiness owners. Agricultural operations often rely on
Handling 1099 Reporting for Prizes, Awards, and Promotional Giveaways
Businesses often use contests, awards, and promotional giveaways to attract customers and reward employees or partners. While these incentives can
When Payments in Foreign Currency Require a 1099
U.S. businesses sometimes pay independent contractors, vendors, or professionals in a currency other than U.S. dollars. If those payments are
1099 Considerations During Mergers & Acquisitions
Mergers and acquisitions (M&A) are complex transactions that involve not only strategic and financial decisions, but also compliance with IRS
Estate Distributions & 1099 Reporting for Beneficiaries
When an estate distributes assets to beneficiaries, the executor or trustee may have to issue IRS information returns. Understanding when
What Types of Services Qualify for 1099‑NEC Reporting?
Understanding the services that require a 1099 is essential for business owners, contractors, and anyone making reportable payments. The IRS
What happens if an employer cannot meet the filing deadline due to unforeseen circumstances?
If an employer cannot meet the filing deadline for ACA forms (Forms 1095-C and 1094-C) due to unforeseen circumstances, they
National Software
California 1023S CSV File Format for Form 592 Submissions
The California 1023S CSV file format is the standard layout required by the California Franchise Tax Board (FTB) for Form
What steps should a recipient take if they believe the Form 1099‑NEC they received is incorrect?
If someone receives a Form 1099-NEC (Nonemployee Compensation) that they believe is incorrect, the IRS expects them to take action
The Difference Between Information Returns and Tax Returns
When it comes to filing with the IRS, not all forms are created equal. Two major categories—information returns and tax
What is Form 1042-S and Who Needs to Submit One?
IRS Form 1042-S is an annual information return for any monetary amounts given to a non-resident alien by a United States based institution or business.
How to Get IRS Red-Ink Forms Free (1099, W-2, 1096, 5498)
If you are filing information returns by paper, the red-ink IRS forms are absolutely free. This article explains how to attain them.
The Difference Between Contractors and Employees
Before they file their taxes, it is critical that employers and workers have determined whether the work they have performed or paid for is considered contract or employee work. This is because contract and freelance work have different tax laws.