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1099 Forms

Use the 1099 Forms report to print on preformatted forms from the Internal Revenue Service the total 1099 MISC payments for a particular 1099 supplier. Submit the 1099 Forms report for each tax reporting entity in your organization.

In accordance with the Internal Revenue Service rules, Payables does not print a 1099 Form for a supplier unless you paid the supplier at least $600 for the calendar year. However, Payables prints a 1099 form for the supplier if you pay a 1099 supplier at least $10 in Royalties (Box 2) or Substitute Payments in lieu of dividends or interest (Box 8), or if you pay any Fishing Boat proceeds (Box 5).

Payables does not identify a 1099 payment by any criterion other than income tax type. Payables supports 1099 MISC types 1-10, except MISC4. For Golden Parachute payments (MISC9), Payables provides a separate total, appended with EPP, in Box 7.

Payables prints the 1099 Forms in order by state code, and then alphabetically by supplier name.


Report Submission

You submit this report from the Submit Request window. See: Submitting Standard Reports, Programs, and Listings.

Selected Report Parameters

Tax Reporting Entity. The name of the tax reporting entity for which you want to submit the 1099 Forms report.

Payer Name Source. The source from which Payables obtains the payer name for the report.

Selected Form Headings

PAYER'S name, street address, city, state and ZIP code. The name and address of your tax reporting entity. You can define the name and location of your tax reporting entity in the Locations window. You then assign the location to your tax reporting entity in the Reporting Entity window. Payables prints the name according to the Payer Name Source parameter you choose.

PAYER'S Federal identification number. The tax identification number of the tax reporting entity. You enter this tax identification number when you define your tax reporting entities.

RECIPIENT's identification number. The tax identification number of the 1099 supplier.

RECIPIENT's name. The 1099 supplier's name.

Street address. Payables prints the supplier's street address.

You can enter up to three address lines when you enter a supplier but the 1099 Form only provides space for one address line. Payables uses the first supplier address line from the Suppliers window and adds as much of the second and third address lines if there is available space in the 1099 Form. Payables prints a maximum of thirty characters in the address field of the 1099 Form.

City, state, and ZIP code. Payables prints the supplier's city, state, and postal code.

Account number (optional). Not implemented.

2nd TIN Not. If the Internal Revenue Service (IRS) has notified you twice in 3 years that a 1099 supplier has provided you with incorrect tax information, you can manually enter an X in this box to fulfill your reporting obligations to the IRS.

4 Federal income tax withheld. In a future release, Payables prints the total amount withheld as income tax from a 1099 supplier during a calendar year.

7 Nonemployee compensation. Payables prints the total amount of nonemployee compensation payments to a 1099 supplier during a calendar year.

If you made any MISC9 (Golden Parachute) payments to a 1099 supplier, Payables provides a separate total of the payments, appended with EPP, in this box.

9 Payer made direct sales of $5,000 or more of consumer products to a buyer (recipient) for resale. (Implemented in a future Payables release)

11 State Income Tax Withheld. (Implemented in a future Payables release). The total amount withheld as state income tax from a 1099 supplier during a calendar year. This field need not be completed for the IRS and is for your convenience only.

12 State/Payer's State Number. (Implemented in a future Payables release). The abbreviated name of the state and the payer's state identification number, assigned by the state. The IRS does not require this field, it is for your reference only.

See Also

Site Locations

1099 Reporting Overview

Reporting Entities

Common Report Parameters

Common Report Headings

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