Filing your 1099s can seem daunting, but there are several straightforward ways to complete this task. Most users opt for electronic filing, which offers convenience and efficiency. At PropertyBoss, we provide guidance to help you navigate your options, ensuring you choose the best method for your needs.
Do I Have to File Electronically?
Yes, electronic filing is mandatory for most situations. If you are filing fewer than 10 paper forms, you may file them on paper. However, starting with tax year 2023, if you have 10 or more information returns, you must file them electronically. This requirement helps reduce paperwork and streamline the filing process, as the government aims to minimize clutter and improve efficiency.
What Are My Options?
One popular option is to use 1099Fire, which is integrated with PropertyBoss. While this service incurs an additional cost and is not affiliated with PropertyBoss, it is a reliable choice for many users. To utilize 1099Fire, you will need to create an account directly with them, which includes making a payment to them.
After you process your 1099s in PropertyBoss, the system will electronically send your 1099 information to 1099Fire. 1099Fire receives the information and files the forms on your behalf.
Do I Have to Use 1099Fire?
No, while 1099Fire is a recommended integrated option due to our long-standing partnership, you are not obligated to use it. You can choose any third-party processor that suits your needs. Simply export your data to a CSV file and provide that file to your chosen vendor for processing.
Are There Any Free Options?
Yes! The IRS offers a free service called the Information Returns Intake Systems (IRIS), which allows you to e-file without any fees. This web-based filing system enables you to:
- E-file up to 100 returns at a time, making it efficient for larger batches.
- Enter information manually or upload via CSV for convenience.
- Download copies for payees to distribute, ensuring everyone has their necessary documentation.
- Keep a record of completed, filed, and distributed forms for your records.
- Save and manage issuer information, simplifying future filings.
In summary, whether you choose to file electronically through 1099Fire, another third-party processor, or take advantage of the IRS's free IRIS service, PropertyBoss is here to support you every step of the way. If you have any questions or need further assistance, please don't hesitate to reach out to our support team!