1099-INT Interest Income

Tax year specific updates to eFile form 1099-INT to the IRS. Find deadlines, penalties, common errors, how to guides plus much more catered to all your questions as an employer.

IRS Corrections: What, When, Why and How?

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IRS Corrections: What, When, Why and How?

Every BoomTax filing license comes with free unlimited corrections submissions. We hope you never have to use them, but you should know what they are, when to submit them, why they are necessary, and how to minimize them. What Are Corrections? After you’ve submitted your information returns to the IRS, they may come back as … Read more

Breaking: IRS Removes Washington DC and Pennsylvania from CF/SF

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oops, accidentally had wrong states in cf/sf

In a surprise QuickAlerts announcement, the IRS has stated that there is an error in Publication 1220 and that DC and PA should not be listed among the states that participate in combined federal/state filing (CF/SF). Error in CF/SF List From the QuickAlert: “The current version of Publication 1220, (rev. 10-2022) Specifications for Electronic Filing … Read more

IRS Form 1099-INT Guide for 2023 (TY2022)

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Form 1099-INT Guide

Before you begin preparing Form 1099-INT filing, it is important that you know what information you need. We’ve compiled the following 4 key topics in our Form 1099-INT Guide that may help you to correctly and timely complete your filing. What’s new for Form 1099-INT? The 1099-INT and instructions have been updated recently from an … Read more

Import Spreadsheet Format Guidelines for Tax Year 2022

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Import spreadsheet format guidelines A Step-by-Step Guide

We’ve created Excel import spreadsheet templates to help you easily upload all of your 1095-B and 1095-C, 1099, and W-2 data. These templates are identical to the official IRS forms so that you can enter the information just as you would on paper.  General Import Spreadsheet Guidelines For more in-depth or specific validation errors, you can … Read more

Prepare Form 1099-INT for IRS Reporting

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Prepare Form 1099-INT person doing paperwork

Once you are ready to begin your tax filing, you must gather the required information to prepare form 1099-INT. Form 1099-INT is used to report interest income paid to a person through savings accounts, US Savings bonds, and interest-bearing checking accounts, or in the course of trade or business. With a relativity low interest income … Read more

Avoid These Common Errors for Form 1099-INT and 1099-DIV

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Hand Stop Sign - Common Errors for Form 1099-DIV and 1099-INT

Preparing Forms 1099-INT and 1099-DIV can be difficult, but we are here to simplify things! We have compiled this list to help ensure that you don’t make these common errors for Form 1099-INT and 1099-DIV. Background Information To reduce errors for Form 1099, it’s important to know what these forms types are and how they … Read more

Who Receives a Form 1099-INT?

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Change - Form 1099-INT

Form 1099-INT is used to report interest income paid to a person through savings accounts, US Savings bonds, and interest-bearing checking accounts, or in the course of trade or business. With a relativity low interest income threshold of $10, payers must issue a 1099-INT form to all parties from the previous tax year that exceed the … Read more

File and Distribute Form 1099

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File and 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 … Read more

Mastering Form 1099-INT: The Essential Guide

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typing closeup

Form 1099-INT is an official IRS document to report interest payers or businesses made to eligible recipients. This form is sent to the IRS during the tax year, as well as any applicable states and individuals for their records. Form 1099-INT is completed by the business/entity whom paid out the interest, not by the recipients. … Read more

Import Spreadsheet Format Guidelines for Tax Year 2021

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Import spreadsheet format guidelines A Step-by-Step Guide

We’ve created Excel import spreadsheet templates to help you easily upload all of your 1095-B and 1095-C, 1099, and W-2  data. These templates are identical to the official IRS forms so that you can enter the information just as you would on paper.  General Import Spreadsheet Guidelines For more in-depth or specific validation errors, you … Read more

Import Spreadsheet Format Guidelines for Tax Year 2020

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Import spreadsheet format guidelines A Step-by-Step Guide

We’ve created Excel import spreadsheet templates to help you easily upload all of your 1095-B and 1095-C, 1099, and W-2  data. These templates are identical to the official IRS forms so that you can enter the information just as you would on paper.  General Import Spreadsheet Guidelines For more in-depth or specific validation errors, you … Read more

Deadlines for Form 1099 Series Tax Year 2020

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Deadlines for form 1099 series

IRS Deadlines for Form 1099 Series

The deadlines for Form 1099 series vary depending on form and type of filing, electronic or paper.

  • The deadline to submit 2020 Forms 1099-NEC to the IRS by paper or electronic filing is January 31, 2021.
  • The deadline to submit all other 2020 Forms 1099 to the IRS by paper filing is March 1, 2021.
  • The deadline to submit all other 2020 Forms 1099 to the IRS by electronic filing is March 31, 2021. 

Note: You must file electronically if you are submitting over 250 Forms 1099-MISC, -INT, or -DIV for TY2020.

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2019 Import Spreadsheet Format Guidelines

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Import spreadsheet format guidelines A Step-by-Step Guide

We’ve created Excel import spreadsheet templates to help you easily upload all of your 1095-B and 1095-C, 1099, and W-2 data. Our Excel import option makes filing your data even easier, which gives you more time to review before the deadline.  These templates are identical to the official IRS forms so that you can enter … Read more

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