How To Create A 1099-MISC Form
All employers are required to generate their employees’ 1099 MISC form. And particularly if your contractors spent more than $600 in their annual expenditures. 1099-MISC forms are usually mailed out to contractors before the end of January 31st. These forms are then filed with IRS before date 28th February. If you are privileged to do your filing via the internet, you may have to do so before the 31st March.
You always have the option of hiring an expert to create the 1099-MISC forms when you feel that you do not have enough time to do so yourself. But you need to be ready to part with some commission. On the other hand, you may opt to order for blank 1099 forms from the IRS department near you, then you fill them on your own. It is cheap and convenient to do so.
You also have another great option – the Intuit. The Intuit offers a 1099-MISC E-file service that allows you create 1099 forms any time you want. What is more, they let you print and file them to the IRS without any complications.
Most businesspersons choose this option as it is convenient and uncomplicated. You may have to pay a little commission for the services. If you can seek these services early enough, you are more likely to pay less.
One of the greatest payback that you enjoy with the Intuit 1099-MISC E-file services is that it is pretty straightforward to use. Here is a step-by-step guide on how to generate 1099-MISC forms without much of a hassle.
To start with; you need to be able to sign-up for their services, that’s if you haven’t used these services before. If you have an account from your previous 1099-MISC E-filing, all you need to do is to log in and use your previous data.
If you are new in this, you may have to search for their websites and sign-up on their page. Ensure that you choose a reliable email address and select the “new customer option,” and then click on the “Sign In” button. Make sure that you fill all the required details, including your first and last name, the company’s name and your cell phone number. You also need to peruse through all the terms and conditions before you are ready to agree to them.
Then you have to enter your business data. You can choose to import your QuickBooks or fill them manually. You also have to choose either your EIN or SSN. Fill your name and address and enter your 1099-MISC Information.
Fill in the details of details of each of your employee: their business, business name and EIN (for those with a business contractor, and SSN for those with individual contractors. Enter their address and the amount that they paid that year.
You need to scan the forms and check if there are errors that you can correct before you make your submission and print your final document.