Form 1099 is a crucial tax document used to report various types of income and information to the IRS and taxpayers. There are a variety of different 1099 form types and each has its own purpose. These form types are typically used by businesses and other payers to report certain transactions to the IRS.
Distribute Form 1099
Several parties will require copies of Form 1099. This is how printed copies should be distributed:
Copy A → IRS
Copy 1 → State Tax Department
Copy B → Recipient
Copy 2 → Recipient to File w/ State Income Tax Return
Copy C → Payer Copy (for your records)
When you e-file your 1099 forms with BoomTax, you will have the option to electronically distribute the appropriate copies to the recipient and, if applicable, the state tax department. You will also have a print and mail option to provide your recipient with a paper copy of their return.
When filing and distributing copies of your Form 1099 filings, it’s extremely important to stay ahead of deadlines in order to avoid penalties.
BoomTax, The Boom Post, and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to engaging in any transaction.