“When you go, all I know is you’re my favorite mistake.” -Sheryl Crow
Mistakes….we all make them!
Did you know if you make a mistake when filing your electronic 1099-MISC or 1099-NEC you have to amend with paper!
Yep…paper forms that you (or your bookkeeper) complete by hand.
Then you tallie by hand, the total for Form 1096.
Then you pull apart the multiple layers of each form and stuff them in envelopes.
Then you have to go to the post office for special postage to mail them.
Then mail them to the IRS, the recipient, and (depending on the state) the state.
It is a PAIN.
Let’s double and triple-check to prevent amending!
Here are some things to watch:
- If your business name or EIN changed, you will need to manually change it when filing through Intuit. Note: it doesn’t flow through from QBO.
- If your subcontractor’s name or address changed, again, you will need to manually change it when filing through Intuit. Note: it doesn’t flow through from QBO.
- Double-check that none of your subcontractor payments include reimbursed expenses.
- Verify you don’t have any subcontractors set up as two separate vendors.
- For corporations, deselect the “track payments for 1099” in their vendor profile.
I know this isn’t the most fun or glamorous thing to talk about, but it’s time to take control of your 1099 process.
HIGH FIVE to that!
Still confused?
Let’s chat!
We’re here to help you successfully grow and build your business. This back-end 1099 stuff…is part of it!
DM me to chat or check out my bio to schedule a meeting. Because? Your success is inevitable!
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