Quick Guide: Prepare, Distribute, File – TY 2019

We’ve put together this quick guide to help you figure out how to timely prepare, distribute, and file your tax forms using BoomTax.

Check out our Other Quick Guides

It is important to know what information you need to begin preparing your filings. In our Step-by-Step Quick Guides for each Form, we’ve identified key topics to help you correctly and timely complete your ACA, 1099, or W-2 filing for Tax Year 2019.

Check and Double Check Your Deadlines

Make sure to mark down both the recipient copy deadlines and IRS submission deadlines for all forms you need to file. However, missing any of these deadlines could leave you liable for fines and penalties by the IRS.

  • Recipient copies of Forms 1099 series and W-2 must be distributed by January 31, 2020.
  • The deadline for recipient copies of Forms 1095-C, 1095-B has been extended from January 31, 2020 to March 2, 2020.
  • SSA submissions of Form W-2 are due by January 31, 2020, by paper or e-filing.
  • IRS submissions of Form 1099-MISC with NEC (Box 7) reporting are due by January 31, 2020, by paper or e-filing.
  • IRS paper file submissions for all other Form 1099 series and ACA filings are due February 28, 2020.
  • IRS electronic submissions for all other Form 1099 series and ACA filings are due March 31, 2020.

In addition, you should also be aware of any individual state deadlines for ACA, 1099, and W-2 reporting.

Import Your Data to Your BoomTax Account

If you do not already have a BoomTax account, you can create one for free.

Once you have logged in, simply select the type of filing you want to create and follow the prompts to upload or enter your company and recipient data. You can import your data via XML, QuickBooks Online, or using our Excel spreadsheet templates for each form.

Distribute Your Recipient Copies

Recipient copies of Forms 1099 Series and W-2 are due by January 31, 2020. Distributing Forms 1095-B and 1095-C to recipients have had their deadline extended to March 2, 2020. BoomTax offers two options to help you timely meet these deadlines.

  • Once you have uploaded and verified your data, you can download a PDF file of mailable copies to print and send to your recipients. The forms are formatted to print on standard white printer paper and fit into standard #10 double-window business envelopes.
  • Want to save time, postage, and office supplies? BoomTax offers an additional Print & Mail service wherein we print, stuff, stamp, and mail your recipient copies for you!

Submit Your E-Filing

After you have reviewed and verified your data, submitting your e-filing is as simple as the click of a button. BoomTax will keep you updated with status e-mails as your filing is processed.

In addition, electronically submitting your forms saves you time and money, and your returns are processed faster and with fewer errors.

Okay, You Submitted Your Filing. Now What?

You’re not done just yet! Here’s what to do once your filings have been processed and returned.

A. Your Filing is ‘Accepted’

Congratulations! NOW you’re done. There is nothing further you need to do to complete your filing.

B. Your Filing is ‘Accepted with Errors’

Don’t worry, we’re here to help you! BoomTax will provide you with simple descriptions of any errors returned and guidance on how to correct them. You can easily edit the information directly within BoomTax and resubmit the corrections at no additional cost.

In fact, the most common errors returned are invalid TINs. You can get ahead of these errors by using products like TINCorrect to verify the TIN information you have against IRS records before submitting your filing.

C. Your Filing is ‘Rejected’

Don’t panic! This is typically caused by a mismatched Company Name and EIN. You can edit your company’s information directly within BoomTax and resubmit your filing by clicking the e-file button.

Quick Guide Conclusion

By using this quick guide, you can make sure that your tax forms are prepared, distributed, and filed on time with BoomTax. Be sure to check out our other quick guides and downloadable PDF guides to become an expert in year-end filing.

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.

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