Get to know our services and find answers to common questions by exploring the details below.
If you still have additional questions or are in need of support, our expert customer service team is always happy to help!
You can cancel an order up until such time that we submit one-or-more of the forms in your order to the IRS/SSA.
Cancelling an order only means that we will cease processing from that point in time. If the forms have already been printed and mailed, then your recipients will still receive their forms.
Likewise, once we initiate the electronic transfer of your forms to the IRS/SSA, cancelling your order will not prevent the data from getting transferred. Due to the speed and automated nature of our service, we encourage you to thoroughly review your data before placing an order.
Per the IRS, the Payer’s TIN/SSN will not be masked, but the recipient’s TIN can be masked on the draft copy if selected.
Yes, any Payer can be edited in your Address Book. A Payee can be edited on the Forms Detail screen before filing. In both instances, please look for an “Actions” box, and select the “pencil” underneath Actions to edit.
Yes. Tax-Aid Filing allows you to enter an unlimited number of filers, and an unlimited number of associated recipients for each of those filers, with your one account.
Sign In to your Tax-Aid Filing account and select Distribution Center. Filter by selecting Tax Year, Form Type, Business, Postal Mail Status & Online Access Status from the drop down menus to view and print forms.
When you e-file 1099/W-2 forms, you are not required to file 1096/W-3 with the IRS and SSA. We generate the form 1096 copy for your reference. In the Distribution Center Form 1096 “Download Summary Report”, is available on the Forms Detail page prior to submitting, before continuing to the Cart Summary or accessible after submitting the forms.
With our service you can do both. You can upload business, recipients and form details using our simple bulk upload templates. We accept Excel or .csv files, and files from QuickBooks Online and Xero Connect.
Yes, you can. With Tax-Aid Filing you have the option to Federal E-file, State E-File, Postal Mail or Online Access. You make this choice at the time that you check out and submit your forms. You only pay for the services you choose. After you’ve paid for your filings, you can download individual copies of your forms in PDF format.
Prior to e-filing, Draft copies of Copy A can be downloaded and printed from the Forms Details page for verification purposes. You can View or Download individual or Download individual or bulk Draft Copies.
You can file 1099 and W-2 federal corrections if you filed your original forms with us. However, we do not currently support state filing for 1099 and W-2 corrections.
A TCC (Transmitter Control Code) is NOT required to e-file with Tax-Aid Filing. It is easy to register your business and e-file 1099 and W-2 forms on our site.
| *Due date is March 31 if filed electronically. Dates that fall on a weekend or legal holiday may be filed on the next business day. IRS Source: General Instructions for Certain Information Returns, 2024 | |||||
| Form | Title | What To Report | Amounts To Report | Due Date | |
|---|---|---|---|---|---|
| To IRS | To Recipient (unless noted) | ||||
| 1042-S | Foreign Person’s U.S. Income Subject to Withholding | Interest, dividends, royalties, pensions and annuities, gambling winnings, and compensation for personal services | See form instructions | March 15 | March 15 |
| 1098 | Mortgage Interest Statement | Mortgage interest (including points) received in the course of a trade or business from individuals and reimbursements of overpaid interest | $600 or more | February 28* | (To Payer/Borrower) January 31 |
| 1098-C | Contributions of Motor Vehicles, Boats, and Airplanes | Information regarding donated motor vehicles, boats or planes | Gross proceeds of $500 or more | February 28* | 30 days from sale or contr. |
| 1098-E | Student Loan Interest Statement | Student loan interest received in the course of a trade or business | $600 or more | February 28* | January 31 |
| 1098-F | Fines, Penalties, and Other Amounts | Government-furnished statement regarding violations or potential violations | All amounts to be paid | N/A | N/A |
| 1098-T | Tuition Statement | Qualified tuition and related expenses, reimbursements or refunds and scholarships or grants (optional) | See IRS instructions | February 28* | January 31 |
| 1099-A | Acquisition or Abandonment of Secured Property | Information about the acquisition or abandonment of property that is security for a debt for which you are the lender | All amounts | February 28* | (To Borrower) January 31 |
| 1099-B | Proceeds From Broker and Barter Exchange Transactions | Sales or redemption of securities, futures transactions, commodities, and barter exchange transactions | All amounts | February 28* | February 15 |
| 1099-C | Cancellation of Debt | Cancellation of a debt owed to a financial institution, credit union, RTC, FDIC, NCUA, or federal government agency | $600 or more | February 28* | January 31 |
| 1099-CAP | Changes in Corporate Control and Capital Structure | Reporting substantial changes in corporate control and/or capital structure | Over $1,000 | February 28* | (To Shareholders) January 31 |
| 1099-DIV | Dividends and Distributions | Distributions, such as dividends, capital gains distributions, or nontaxable distributions, that were paid on stock and liquidation distributions | $10 or more, except $600 or more for liquidations | February 28* | January 31 |
| 1099-G | Certain Government Payments | Unemployment compensation, state and local income tax refunds, agricultural payments, and taxable grants | $10 or more for unemployment and refunds | February 28* | January 31 |
| 1099-INT | Interest Income | Interest income, including tax-exempt interest income; do not include interest income from an IRA | $10 or more ($600 or more in some cases) | February 28* | January 31 |
| 1099-K | Payment Card and Third Party Network Transactions | Payment card transactions Third party network payments | All amounts More than $600 | February 28* | January 31 |
| 1099-LTC | Long-Term Care and Accelerated Death Benefits | Insurance disbursement for long-term care | All amounts | February 28* | January 31 |
| 1099-MISC | Miscellaneous Information Also, use either this form or Form 1099-NEC (see below) to report the occurrence of direct sales of $5,000 or more of consumer goods for resale. |
| $600 or more, except $10 or more for royalties $600 or more All amounts $600 or more $600 or more All amounts $600 or more $10 or more | February 28 | January 31 February 15 |
| 1099-NEC | Nonemployee Compensation | Payments for services performed for a trade or business by people not treated as its employees; Examples: Fees to subcontractors or directors, and golden parachute payments Attorney fees | $600 or more | January 31 | January 31 |
| 1099-OID | Original Issue Discount | Original issue discount | $10 or more | February 28* | January 31 |
| 1099-PATR | Taxable Distributions Received From Cooperatives | Distributions from cooperatives passed through to their patrons | $10 or more | February 28* | January 31 |
| 1099-Q | Payments From Qualified Education Programs | Used to report earnings and payments from qualified state and private eligible education institutions AND ESA rollovers | All amounts | February 28* | January 31 |
| 1099-QA | Distributions from ABLE Accounts | Distributions from ABLE accounts | All amounts | February 28* | January 31 |
| 1099-R | Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. | Distributions from retirement or profit-sharing plans, IRAs, insurance contracts and IRA recharacterizations | $10 or more | February 28* | January 31 |
| 1099-S | Proceeds From Real Estate Transactions | Gross proceeds from the sale or exchange of real estate and certain royalty payments | Generally, $600 or more | February 28* | February 15 |
| 1099-SA | Archer MSA, HSA or Medicare Advantage MSA | Distributions from an Archer MSA, HSA, or Medicare Advantage MSA | All amounts | February 28* | January 31 |
| 3921/3922 | Exercise of an Incentive Stock Option | Transfer of stock through exercise of an incentive option OR transfer of employee stock acquired through a purchase plan | All amounts | February 28* | January 31 |
| 5498 | IRA Contribution Information | Contributions (including rollover contributions) to an individual retirement arrangement (IRA), including an SEP, SIMPLE or Roth IRA; Roth conversions; IRA recharacterizations; and the fair market value of the account | All amounts | May 31 | (Value of acct.) January 31 (Contributions) May 31 |
| 5498-ESA | Coverdell ESA Contribution Information | Contributions (including rollover contributions) to a Coverdell Education Savings Account | All amounts | May 31 | April 30 |
| 5498-SA | HSA, Archer MSA, or Medicare Adv. MSA Info | Contributions to an HSA or MSA and the fair market value | All amounts | May 31 | (To Participant) May 31 |
| W-2G | Certain Gambling Winnings | Gambling winnings from horse racing, dog racing, jai alai, lotteries, keno, bingo, slot machines, sweepstakes, wagering, etc. | Generally, $600 or more; $1,200+ from bingo or slot machines; $1,500+ from keno | February 28* | January 31 |
| W-2 | Wage and Tax Statement | Wages, tips, other compensation, withheld income, social security and Medicare taxes, and advance earned income credit (EIC) payments. Includes bonuses, vacation allowances, severance pay, moving expense payments, some kinds of travel allowances, and third-party payments of sick pay | See SSA instructions | (To SSA) January 31 | January 31 |
Yes. Our TIN matching feature is designed to streamline the TIN verification process, ensuring your 1099 filings are error-free. Authorized payers with an EIN can match 1099 payee Tax Identification Number against the IRS records prior to filing information returns. You will receive a response within 24 hours and be able to correct the records that are not successful.
Once you submit your forms to the IRS/SSA, you will receive an email containing updates on the status of your submission. You can also Sign In to your account to check the status of your forms.
Then, simply click on the 1099/W-2 at the top of the page to review current form status.
Forms can have one of the following statuses:
In Progress – The form has been created, but it has not been completed or submitted yet. To finish filing the form, you can click on “Continue” under the Action column.
Transmitted to the IRS – Your tax return has been successfully transmitted to the IRS. However, the agency has yet to accept or reject the form.
Accepted by the IRS – The IRS/SSA has accepted your return. It may take several days for the IRS to Accept your forms after Transmission.
Rejected by IRS -Your return has been rejected by the IRS/SSA.
Help receiving Tax-Aid Emails
All Tax-Aid Filing emails will be sent from either notifications@taxaidfiling.com or support@taxaidfiling.com.
To make sure you receive all emails from Tax-Aid Filing, please:
If the email confirmation does not appear in your inbox within 5 minutes, please check for it in your ‘Junk Mail’ folder and adjust your junk mail filters accordingly.
Recipient copies are mailed the next business day after you place your order via first-class mail and your recipients will receive their form copies within 2 to 4 business days depending on the U.S. Postal Service.
For orders placed after January 28, we make every effort, but cannot guarantee postmarked before the January 31 deadline.
When you decide to send 1099 or W-2 Forms to the state, we include the additional Reconciliation or Transmittal Forms as required by each state.
These states do not require Forms 1099-NEC and 1099-MISC to be filed with the state: Alaska, Florida, Illinois, New Hampshire, Nevada, New York, South Dakota, Tennessee, Texas, Washington, Wyoming.
Form 1099-NEC Filing Deadline: January 31, 2024:
W-2 Filing Deadline: January 31, 2024:
Printing and Mailing Deadline:
We support the following correction forms.
Manual Correction: (13 forms)
Bulk Correction: (9 forms)
No refunds will be allowed once the form has been transmitted to the IRS.
Refunds will not be provided if the Federal or State agency rejects the form based on processing.
The credits purchased on taxaidfiling.com do not expire and will be available in your account until used regardless of the tax year.
Refunds will not be given for unused credits, over purchased credits, or choosing to pay with credit card at the time of checkout.
You can start filing as soon as we release the current year’s forms, typically in early December. You do not have to wait until January to submit your forms, We offer a scheduling feature which allows you to complete your forms in advance and select a later filing date.
As an authorized IRS e-file provider, Tangible Values, Inc. operating under the brand Tax-Aid Filing, uses Span Enterprises’ proprietary e-filing engine to transmit information returns to the IRS. Span is SOC certified, IRS approved and is headquartered in South Carolina, U.S.A. They are known for showcasing their commitment to security and operational excellence.
We start e-filing with the IRS/SSA as soon as the IRS opens the FIRE (File Information Returns Electronically) site, which occurs in mid-January. This is the earliest the IRS will accept forms. We will file daily (possibly multiple times per day during busy days).
All 1099, 1098, and W-2 forms submitted before noon on January 30 will be postmarked and e-filed by the January 31 deadline.
All ACA forms filed by April 1st are guaranteed to be postmarked and e-filed by the April 1st deadline.
All other 1098 and 1099 forms must be filed on our site no later than April 1 in order to guarantee e-filing to the IRS/SSA deadline of April 1.
All 1042-S forms must be filed on our site no later than March 15 in order to guarantee e-filing to the IRS to meet the deadline of March 15.
The process is automatic. When you select “Postal Mail” we will print and mail the forms to your recipients along with electronically filing your forms with the IRS.
The 1099 form is a tax form used to report a supplier or vendor’s income (your expense) to the Internal Revenue Service. However, it is up to the entity who is paying out the monies to submit this form. It is used specifically to report financial activity from different sources — specifically, sources other than a wage-paying job. Often people have income–a little bit here and there or a big chunk all at once–and they wonder whether the entity paying them is going to file a 1099 form.
Businesses need to know when this form should be used. Top Line: The IRS wants to know who you paid for services and supplies. They will then use this reporting to ensure your supplier correctly reports the income.
Some common situations that would require you to file a 1099 form are:
There are also some lesser-known instances in which a 1099 form should be used. Unfortunately–ignorance is no excuse when it comes to the IRS. It is up to each business owner or individual to know the laws and guidelines of all tax reporting. The IRS website (www.irs.gov) provides a library of articles to help you learn about tax laws and requirements, and stay abreast of changes.
Here are additional situations that require submission of a 1099 form. As you can see they each have their own unique extension:
See: www.irs.gov document i1099_13 for more details
When you submit a 1099 to the IRS, the person who received the income must be mailed a copy. The 1099 forms that your business supplies to the IRS are also used by your contractors–your freelancers–to complete their tax returns. With all the different reasons why you would need to submit a 1099, it can be a daunting task. This is why the Tax-Aid Filing website was created–to make the filing of one or 100 tax forms a faster, more simple process. After years of doing nothing but electronic filing for taxpayers, the Tax-Aid Filing team has honed the process to the leanest and meanest that it’s ever been.
The card issuer may have blocked the transaction when multiple online transactions occur to the same company in a short period of time. Contact us and we will help resolve the issue with your account.
The Discount is only applicable to Forms filed and not applicable to the purchase of credits.
The merchant name or transaction description will appear as “TANGIBLE VALUES, INC – TA MN”
Once a form is transmitted, we are required as an IRS-authorized e-file provider to maintain the records for 7 years. We cannot delete any records upon request.
Yes. Tax-Aid Filing allows you to enter an unlimited number of filers, and an unlimited number of associated recipients for each of those filers, with your one account.
When you e-file 1099/W-2 forms, you are not required to file 1096/W-3 with the IRS and SSA. We generate the form 1096 copy for your reference. In the Distribution Center Form 1096 “Download Summary Report”, is available on the Forms Detail page prior to submitting, before continuing to the Cart Summary or accessible after submitting the forms.
Yes, you can. With Tax-Aid Filing you have the option to Federal E-file, State E-File, Postal Mail or Online Access. You make this choice at the time that you check out and submit your forms. You only pay for the services you choose. After you’ve paid for your filings, you can download individual copies of your forms in PDF format.
Prior to e-filing, Draft copies of Copy A can be downloaded and printed from the Forms Details page for verification purposes. You can View or Download individual or Download individual or bulk Draft Copies.
You can file 1099 and W-2 federal corrections if you filed your original forms with us. However, we do not currently support state filing for 1099 and W-2 corrections.
A TCC (Transmitter Control Code) is NOT required to e-file with Tax-Aid Filing. It is easy to register your business and e-file 1099 and W-2 forms on our site.
Yes. Our TIN matching feature is designed to streamline the TIN verification process, ensuring your 1099 filings are error-free. Authorized payers with an EIN can match 1099 payee Tax Identification Number against the IRS records prior to filing information returns. You will receive a response within 24 hours and be able to correct the records that are not successful.
Recipient copies are mailed the next business day after you place your order via first-class mail and your recipients will receive their form copies within 2 to 4 business days depending on the U.S. Postal Service.
For orders placed after January 28, we make every effort, but cannot guarantee postmarked before the January 31 deadline.
When you decide to send 1099 or W-2 Forms to the state, we include the additional Reconciliation or Transmittal Forms as required by each state.
These states do not require Forms 1099-NEC and 1099-MISC to be filed with the state: Alaska, Florida, Illinois, New Hampshire, Nevada, New York, South Dakota, Tennessee, Texas, Washington, Wyoming.
Form 1099-NEC Filing Deadline: January 31, 2024:
W-2 Filing Deadline: January 31, 2024:
Printing and Mailing Deadline:
We support the following correction forms.
Manual Correction: (13 forms)
Bulk Correction: (9 forms)
You can start filing as soon as we release the current year’s forms, typically in early December. You do not have to wait until January to submit your forms, We offer a scheduling feature which allows you to complete your forms in advance and select a later filing date.
We start e-filing with the IRS/SSA as soon as the IRS opens the FIRE (File Information Returns Electronically) site, which occurs in mid-January. This is the earliest the IRS will accept forms. We will file daily (possibly multiple times per day during busy days).
All 1099, 1098, and W-2 forms submitted before noon on January 30 will be postmarked and e-filed by the January 31 deadline.
All ACA forms filed by April 1st are guaranteed to be postmarked and e-filed by the April 1st deadline.
All other 1098 and 1099 forms must be filed on our site no later than April 1 in order to guarantee e-filing to the IRS/SSA deadline of April 1.
All 1042-S forms must be filed on our site no later than March 15 in order to guarantee e-filing to the IRS to meet the deadline of March 15.
The process is automatic. When you select “Postal Mail” we will print and mail the forms to your recipients along with electronically filing your forms with the IRS.
Yes, any Payer can be edited in your Address Book. A Payee can be edited on the Forms Detail screen before filing. In both instances, please look for an “Actions” box, and select the “pencil” underneath Actions to edit.
Sign In to your Tax-Aid Filing account and select Distribution Center. Filter by selecting Tax Year, Form Type, Business, Postal Mail Status & Online Access Status from the drop down menus to view and print forms.
With our service you can do both. You can upload business, recipients and form details using our simple bulk upload templates. We accept Excel or .csv files, and files from QuickBooks Online and Xero Connect.
Once you submit your forms to the IRS/SSA, you will receive an email containing updates on the status of your submission. You can also Sign In to your account to check the status of your forms.
Then, simply click on the 1099/W-2 at the top of the page to review current form status.
Forms can have one of the following statuses:
In Progress – The form has been created, but it has not been completed or submitted yet. To finish filing the form, you can click on “Continue” under the Action column.
Transmitted to the IRS – Your tax return has been successfully transmitted to the IRS. However, the agency has yet to accept or reject the form.
Accepted by the IRS – The IRS/SSA has accepted your return. It may take several days for the IRS to Accept your forms after Transmission.
Rejected by IRS -Your return has been rejected by the IRS/SSA.
Help receiving Tax-Aid Emails
All Tax-Aid Filing emails will be sent from either notifications@taxaidfiling.com or support@taxaidfiling.com.
To make sure you receive all emails from Tax-Aid Filing, please:
If the email confirmation does not appear in your inbox within 5 minutes, please check for it in your ‘Junk Mail’ folder and adjust your junk mail filters accordingly.
You can cancel an order up until such time that we submit one-or-more of the forms in your order to the IRS/SSA.
Cancelling an order only means that we will cease processing from that point in time. If the forms have already been printed and mailed, then your recipients will still receive their forms.
Likewise, once we initiate the electronic transfer of your forms to the IRS/SSA, cancelling your order will not prevent the data from getting transferred. Due to the speed and automated nature of our service, we encourage you to thoroughly review your data before placing an order.
No refunds will be allowed once the form has been transmitted to the IRS.
Refunds will not be provided if the Federal or State agency rejects the form based on processing.
The credits purchased on taxaidfiling.com do not expire and will be available in your account until used regardless of the tax year.
Refunds will not be given for unused credits, over purchased credits, or choosing to pay with credit card at the time of checkout.
| *Due date is March 31 if filed electronically. Dates that fall on a weekend or legal holiday may be filed on the next business day. IRS Source: General Instructions for Certain Information Returns, 2024 | |||||
| Form | Title | What To Report | Amounts To Report | Due Date | |
|---|---|---|---|---|---|
| To IRS | To Recipient (unless noted) | ||||
| 1042-S | Foreign Person’s U.S. Income Subject to Withholding | Interest, dividends, royalties, pensions and annuities, gambling winnings, and compensation for personal services | See form instructions | March 15 | March 15 |
| 1098 | Mortgage Interest Statement | Mortgage interest (including points) received in the course of a trade or business from individuals and reimbursements of overpaid interest | $600 or more | February 28* | (To Payer/Borrower) January 31 |
| 1098-C | Contributions of Motor Vehicles, Boats, and Airplanes | Information regarding donated motor vehicles, boats or planes | Gross proceeds of $500 or more | February 28* | 30 days from sale or contr. |
| 1098-E | Student Loan Interest Statement | Student loan interest received in the course of a trade or business | $600 or more | February 28* | January 31 |
| 1098-F | Fines, Penalties, and Other Amounts | Government-furnished statement regarding violations or potential violations | All amounts to be paid | N/A | N/A |
| 1098-T | Tuition Statement | Qualified tuition and related expenses, reimbursements or refunds and scholarships or grants (optional) | See IRS instructions | February 28* | January 31 |
| 1099-A | Acquisition or Abandonment of Secured Property | Information about the acquisition or abandonment of property that is security for a debt for which you are the lender | All amounts | February 28* | (To Borrower) January 31 |
| 1099-B | Proceeds From Broker and Barter Exchange Transactions | Sales or redemption of securities, futures transactions, commodities, and barter exchange transactions | All amounts | February 28* | February 15 |
| 1099-C | Cancellation of Debt | Cancellation of a debt owed to a financial institution, credit union, RTC, FDIC, NCUA, or federal government agency | $600 or more | February 28* | January 31 |
| 1099-CAP | Changes in Corporate Control and Capital Structure | Reporting substantial changes in corporate control and/or capital structure | Over $1,000 | February 28* | (To Shareholders) January 31 |
| 1099-DIV | Dividends and Distributions | Distributions, such as dividends, capital gains distributions, or nontaxable distributions, that were paid on stock and liquidation distributions | $10 or more, except $600 or more for liquidations | February 28* | January 31 |
| 1099-G | Certain Government Payments | Unemployment compensation, state and local income tax refunds, agricultural payments, and taxable grants | $10 or more for unemployment and refunds | February 28* | January 31 |
| 1099-INT | Interest Income | Interest income, including tax-exempt interest income; do not include interest income from an IRA | $10 or more ($600 or more in some cases) | February 28* | January 31 |
| 1099-K | Payment Card and Third Party Network Transactions | Payment card transactions Third party network payments | All amounts More than $600 | February 28* | January 31 |
| 1099-LTC | Long-Term Care and Accelerated Death Benefits | Insurance disbursement for long-term care | All amounts | February 28* | January 31 |
| 1099-MISC | Miscellaneous Information Also, use either this form or Form 1099-NEC (see below) to report the occurrence of direct sales of $5,000 or more of consumer goods for resale. |
| $600 or more, except $10 or more for royalties $600 or more All amounts $600 or more $600 or more All amounts $600 or more $10 or more | February 28 | January 31 February 15 |
| 1099-NEC | Nonemployee Compensation | Payments for services performed for a trade or business by people not treated as its employees; Examples: Fees to subcontractors or directors, and golden parachute payments Attorney fees | $600 or more | January 31 | January 31 |
| 1099-OID | Original Issue Discount | Original issue discount | $10 or more | February 28* | January 31 |
| 1099-PATR | Taxable Distributions Received From Cooperatives | Distributions from cooperatives passed through to their patrons | $10 or more | February 28* | January 31 |
| 1099-Q | Payments From Qualified Education Programs | Used to report earnings and payments from qualified state and private eligible education institutions AND ESA rollovers | All amounts | February 28* | January 31 |
| 1099-QA | Distributions from ABLE Accounts | Distributions from ABLE accounts | All amounts | February 28* | January 31 |
| 1099-R | Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. | Distributions from retirement or profit-sharing plans, IRAs, insurance contracts and IRA recharacterizations | $10 or more | February 28* | January 31 |
| 1099-S | Proceeds From Real Estate Transactions | Gross proceeds from the sale or exchange of real estate and certain royalty payments | Generally, $600 or more | February 28* | February 15 |
| 1099-SA | Archer MSA, HSA or Medicare Advantage MSA | Distributions from an Archer MSA, HSA, or Medicare Advantage MSA | All amounts | February 28* | January 31 |
| 3921/3922 | Exercise of an Incentive Stock Option | Transfer of stock through exercise of an incentive option OR transfer of employee stock acquired through a purchase plan | All amounts | February 28* | January 31 |
| 5498 | IRA Contribution Information | Contributions (including rollover contributions) to an individual retirement arrangement (IRA), including an SEP, SIMPLE or Roth IRA; Roth conversions; IRA recharacterizations; and the fair market value of the account | All amounts | May 31 | (Value of acct.) January 31 (Contributions) May 31 |
| 5498-ESA | Coverdell ESA Contribution Information | Contributions (including rollover contributions) to a Coverdell Education Savings Account | All amounts | May 31 | April 30 |
| 5498-SA | HSA, Archer MSA, or Medicare Adv. MSA Info | Contributions to an HSA or MSA and the fair market value | All amounts | May 31 | (To Participant) May 31 |
| W-2G | Certain Gambling Winnings | Gambling winnings from horse racing, dog racing, jai alai, lotteries, keno, bingo, slot machines, sweepstakes, wagering, etc. | Generally, $600 or more; $1,200+ from bingo or slot machines; $1,500+ from keno | February 28* | January 31 |
| W-2 | Wage and Tax Statement | Wages, tips, other compensation, withheld income, social security and Medicare taxes, and advance earned income credit (EIC) payments. Includes bonuses, vacation allowances, severance pay, moving expense payments, some kinds of travel allowances, and third-party payments of sick pay | See SSA instructions | (To SSA) January 31 | January 31 |
The 1099 form is a tax form used to report a supplier or vendor’s income (your expense) to the Internal Revenue Service. However, it is up to the entity who is paying out the monies to submit this form. It is used specifically to report financial activity from different sources — specifically, sources other than a wage-paying job. Often people have income–a little bit here and there or a big chunk all at once–and they wonder whether the entity paying them is going to file a 1099 form.
Businesses need to know when this form should be used. Top Line: The IRS wants to know who you paid for services and supplies. They will then use this reporting to ensure your supplier correctly reports the income.
Some common situations that would require you to file a 1099 form are:
There are also some lesser-known instances in which a 1099 form should be used. Unfortunately–ignorance is no excuse when it comes to the IRS. It is up to each business owner or individual to know the laws and guidelines of all tax reporting. The IRS website (www.irs.gov) provides a library of articles to help you learn about tax laws and requirements, and stay abreast of changes.
Here are additional situations that require submission of a 1099 form. As you can see they each have their own unique extension:
See: www.irs.gov document i1099_13 for more details
When you submit a 1099 to the IRS, the person who received the income must be mailed a copy. The 1099 forms that your business supplies to the IRS are also used by your contractors–your freelancers–to complete their tax returns. With all the different reasons why you would need to submit a 1099, it can be a daunting task. This is why the Tax-Aid Filing website was created–to make the filing of one or 100 tax forms a faster, more simple process. After years of doing nothing but electronic filing for taxpayers, the Tax-Aid Filing team has honed the process to the leanest and meanest that it’s ever been.
© 2024 Tax-Aid Filing a division of TangibleValues, Inc.
