bkvillaros posted on November 17, 2011 16:45
Customer Challenge: The due date for 1099s to be issued to recipients is by January 31 and they have to be filed with the IRS by February 28. Businesses are required to provide individuals and companies who work for them with 1099s. Independent Contractors require 1099s in order to file their tax returns.
What is a 1099 form? The Form 1099 is used to report miscellaneous income for individuals and companies who have been paid $600 or more in non-employee service payments during a calendar year with the exception of royalty payments of $10 or more.
1099 vs W2: Employers classify people doing work for them as an employee receiving a W2, or an independent contractor receiving a 1099.
How can Avalara help? Avatax 1099 is the latest cloud based offering that automates the 1099 business process, some of its features are:
- 100 percent cloud based, print, mail and CSF electronic filing of all forms
- Instant bulk or individual TIN validation
- Easy import of vendor detail and invoice detail
- Embedded W9 and B-Notice remediation tools to clean missing or invalid vendor data
Check out our online demo (takes 4 minutes): http://www.youtube.com/watch?v=5FlpUx31VjQ
For more information, we invite you to download this free brochure.