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Form 1099-NEC Is Now Added To The Combined Federal/State Filing (CF/SF) Program In 2021

In mid-September of 2021, the IRS published a revised version of the 1120 publication, which now provides clarity into the filing requirements of the IRS Form 1099-NEC. The revised publication explicitly details that Form 1099-NEC, non-employee compensations, is now included in the Combined Federal/State Filing Program.

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Instructions Revised For IRS Form 941-X Adjusted Employer’s Quarterly Federal Tax Return

Earlier in 2021, the IRS released a revised version of Form 941-X, which specifically deals with the adjusted Employer’s quarterly federal tax return or claim for refund. The instructions have also been revised to help taxpayers accommodate the new reporting guidelines. Here’s everything you need to know to stay on top of your tax game.

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1099-MISC Form Corrections Update: Exclude Subsidized CARE Act Loan Payments

The IRS released an advanced version of the announcement detailing the corrections to Form 1099-MISC filings. The announcement details certain subsidized loan payments were erroneously reported as income of the borrowers by the lenders. Here’s a quick rundown of the new update for 1099-MISC.

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Tax1099’s Tipalti Integration Is Everything You Need To Simplify Your Tax Information Reporting

Tax1099 is one of the most-used digital interfaces for tax compliance and regulatory reporting. Loved by accounting teams, CPAs, and businesses of all sizes. In order to further enhance the user e-Filing experiences, Tax1099 has integrated one of the most-loved accounting automation software – Tipalti.

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When Does Your Business Need A Form W-9?

As of late, businesses have been hiring independent contractors to delegate work and get things done outside the business ecosystem at a faster pace. Businesses that hire these independent contractors are required to pay them with predefined compensations and variables. An overview of how W-9 enables vendor-contractor tax compliance for businesses.

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Best Practices For A Successful 1099 Season

Tax season is on full speed. Businesses, both small and large, are focused on gathering the required information to file 1099 tax forms. The most common theme across all businesses, regardless of their type and size is that business owners and their accounting teams are apprehensive about the new changes to the 1099 series. Here are the 5 best practices for a successful tax season.

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