Sapphire walks through filing 1099-NEC forms on Tax1099.com, from login to submission. The tutorial covers entering payer and vendor info, payment amounts, reviewing summaries, and scheduling filings. A key tip: use vendor email addresses to skip mailing physical copies.
Hi, my name is Sapphire, and today in this video we'll be showing you a quick overview of Tax1099, which is the website that we use here at Insight to file the 1099s for ourselves and then for our clients as well. So in a web browser, if you go to tax1099.com, you— if you don't have an account already, you'll just select the sign up button. If you do, you can log in. Upon logging in, you will see your dashboard. If you have any 1099s in progress, it'll show you here in this dashboard along with a color indicator of where they are at in the process of being submitted to the IRS. From here, the dashboard as well, we can click on this Start New Filing. It'll come up with the options of different forms that we can use with 1099. If you're watching this video, it's most likely that you'll be filing 1099s for your company to subcontractors, coaches, construction workers, or those sort of things, those that qualify for a 1099 because we've paid them in excess of $600. And all of those are going to be filed on a 1099-NEC. So we'll select that. You'll see that this form looks similar to the 1099 or identical. Here in the top is going to be the payer information, or our information as the business issuing the 1099. If you already have your information saved for your business, you can just select it here. If not, you can select Add Payer. You'll complete all the information and then you'll click Add. The next step would be the recipient or the vendor that we're issuing the 1099 to. Again, if you've entered a vendor in the past, it does save that information, so you have the option of clicking from the existing list, or you can click Add Recipient, add their information. I do suggest you always have an email for all your vendors. That way you can email their 1099 instead of having to snail mail it. So since we have some vendors in here, we're just going to select one. The next step would be to enter the amount that you paid them in the year that was for their services. In some states, you do have a state requirement, so if you do, you'll also have to enter, enter in the information there as well as your payer state number. If you don't, if you aren't sure if you have a requirement, Tax 1099 will let you know, so don't worry too much about it. Once you have that information in, you can save and add new for as many vendors as you need to issue the 1099 for. Or once complete, you'll click Save and Continue. On this next screen, it's going to be a summary of all of the vendors, so this is a good checkpoint to make sure the total amount being issued is the amount that you want to be issued. It's good to check this against your QuickBooks vendor 1099 vendor list. A couple other things, you always want to email your recipients, that way we can avoid snail mail, just with being 2021 makes the most sense. The other thing is to change the schedule date for when these 1099s will be filed. We suggest pushing it out as far as you can. So for 2022, that's going to be the 28th of January. And why that's helpful is if I need to make any changes, either add vendors or I got amounts incorrect or I got an address, a name, an EIN, a social incorrect, I can come back in here. before the 28th, update the information, and have it submit without having to do any corrected 1099s. Next, you're going to just select all the vendors that you want to file for, which is likely going to be your entire list. You'll click Next. This is going to be the payment screen. It'll let you know the total filing fee, so you'll go ahead and enter your credit card information to pay for it, and then once that's complete, you'll just select Pay and Submit to eFile, and then the work will be done. Going back to the dashboard, if you need to print any copies, you can do so here by either printing view or print and view. Other things, if I need to make any changes to any recipients or vendors, I can do so under this People tab. It'll keep the list of vendors that I've added, and I can edit them or add in other information. I can also manage my company information here by selecting Manage Payer. I can add multiple if I have multiple businesses, or if need be, I can change my address or anything related to my own business. So you should be— and that's everything. Should be done and good after that.
