US 1099 Electronic Media Report

Generate summarized US 1099 information in electronic format as required by the Internal Revenue Service (IRS). The IRS requires electronic filing if you submit 250 or more records for your US 1099 reporting.

You must report US 1099 information for each tax reporting entity that you define for your organization. The 250 record requirement is applicable to each tax reporting entity.

If you enable combined filing, the report produces K records for tax regions or states participating in the Combined Filing Program that have qualifying payments. The report also produces B records for suppliers with US 1099 payment amounts which equal or exceed the tax region's reporting limit in qualifying states.

Note: Refer to federal or state tax publications to obtain information regarding the US 1099 reporting requirements for each participating tax region. For example, you may have to enter or edit the reporting limits for each income tax region on the Manage Income Tax Regions page.

You can run this report from the Manage Scheduled Processes page.

Before running this report:

Account for the invoices.
Ensure the tax reporting entity has a nine-digit tax identification number. Assign the taxpayer ID to the tax entity on the Create Reporting Entity page.
Submit and review the US 1099 Invoice Exceptions and US 1099 Supplier Exceptions reports. Make any necessary corrections.

Parameters

Business Unit

Specify a business unit.

From Accounting Date, To Accounting Date

Specify an inclusive accounting date range.

Tax Reporting Entity

Enter the name of a tax reporting entity.

Payer Name Source

Specify the source from which to obtain the payer name for the US 1099 payments.

Address: Address line 1 for the address entered on the Create Location page in Oracle Fusion Global Human Resources.
Location: Location name entered on the Create Location page.
Tax entity: Entity name entered on the Create Reporting Entity page.

Control Name

Enter your Payer Name Control. You can obtain the four-character Payer Name Control from the mailing label on the 1099 package most payers on record receive each December. The Payer Name Control is typically the first four characters of your tax reporting entity name.

Control Code

Enter your five-digit Transmitter Control Code (TCC). You can file Form 4419 to receive a control code from the Internal Revenue Service.

Test Submission

Select Yes if you're submitting a test US 1099 Electronic Media Report to the IRS.

Media Type

Diskette: Formats your US 1099 data so that you can record it on a diskette.
Electronic file: Formats your US 1099 data so that you can transmit an electronic file to the IRS.
Magnetic tape: Formats your US 1099 data so that you can record it on magnetic tape.

Last Year Filing

Select Yes if due to a merger, bankruptcy, and so on, this is the last year the tax reporting entity is filing.

Foreign Corporation

Select Yes if your organization is a foreign tax reporting entity as recognized by the IRS.

Balancing Segment Source

Specify the account to use to determine the balancing segment for the invoice.

Invoices: Charge account on the invoice distribution.
Payments: Bank cash account used for the invoice payment.

File Indicator

Select a file indicator to include in the report:

Correction
Original
Replacement

Original File

If you're submitting a replacement file, select one of the following options:

Electronic
Magnetic media

Replacement Alphanumeric Character

Enter a value if the IRS Enterprise Computing Center returned your file due to processing problems and you're generating a replacement file. Enter the alphanumeric character that appears immediately following the TCC number on the Media Tracking Slip Form 9267 that was sent with your returned media.

You must enter a value if your File Indicator is Replacement and if the Original File and Media Type aren't both Electronic.

Contact Name

Enter the name of the contact to include in the report.

Contact Phone

Enter the phone of the contact to include in the report.

Contact E-Mail

Enter the complete e-mail of the person in your enterprise to contact regarding electronic or magnetic files sent to the IRS. The e-mail is included in the report.

Electronic File Name

If this is a replacement file, enter the file name provided by the IRS electronic Filing Information Return Electronically (FIRE) application, for example, 12345p01.DAT. If this is an original or correction file, leave this parameter blank.

Federal Reporting Limit

Specify the minimum US 1099 payment amount to report.

Report Results

If the report encounters a negative income tax type total, it stops and reports this in the log file.

If the report encounters any of the following exceptions, it stops and reports the error in the output.

Exception	Description
Nonstandard TIN	The tax identification number is more or less than nine digits in length.
No address element	The US 1099 supplier has a tax reporting site that doesn't have an address, city, or postal code.
No foreign address	The foreign supplier has a tax reporting site that doesn't have an address or country.
No state	The supplier doesn't have a state abbreviation for its tax reporting site.
No TIN	The supplier doesn't have a tax identification number.