During this Webinar, We Cover:
Click on the below Table of Contents to Jump to Information
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2024 Items to Note:
1. General Information
10 Form Limit - if filing more than 10 returns, then the information must be filed electronically, along with printing out forms for vendors. This 10-threshold requirement applies separately to each form type. The 10-threshold applies to 1099-NEC, then it starts over again when doing 1099-MISC, for example.
1099’s forms can be filed with the IRS through two separate links.
The FIRE System at //fire.irs.gov/ which is the preferred (easiest) bulk 1099 upload method.
The IRIS System at //www.irs.gov/iris which started in the 2023 year to help with companies that have less than 250-1099’s to file or who lost their FIRE Logins.If filing 1099’s electronically,
FIRE reporting: you must have a FIRE Transmitter Control Code & FIRE system login.
IRIS reporting: you must have a IRIS Taxpayer portal TCC loginWhich reporting System should I use?
If you still have the FIRE login, continue to use this. It is easier to report your 1099 totals and does not require immediate name/address edits.
If you lost your FIRE login, then you can apply for an IRIS TCC login or use last year’s login.
If you have to use the IRIS reporting, you must upgrade to 24.0.0 sp3 release and start updating your Registered Name Description for Federal ID.
Follow this link to begin Updating your information - https://culturatech.atlassian.net/l/cp/w0RgrTBA
This information must be corrected BEFORE reporting 2024 information to the IRS.
2. Correct Forms for Your Printer
To aid in purchasing forms, the number of returns per 8.5-inch x 11-inch page is as follows:
ACP | 1099-NEC | 3 FORMS TO A PAGE | 22 LINES PER FORM (2.83-INCHES TALL) |
ACP | 1099-MISC | 2 FORMS TO A PAGE | 33 LINES PER FORM (5.5-INCHES TALL) |
ACP | 1099-INT | 2 FORMS TO A PAGE | 33 LINES PER FORM (5.5-INCHES TALL) |
3. Deadlines for 1099 forms for 2024
There are three types of 1099 forms that can be printed from Accounts Payable AGRIS and each type of form may have a different deadline.
Form | 1099 Due Date to Recipients | Filing to IRS By Mail | E-Filing to IRS |
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1099 NEC | January 31, 2025 | January 31, 2025 | January 31, 2025 |
1099-MISC | January 31, 2025 | February 28, 2025 | March 31, 2025 |
1099-INT | January 31, 2025 | February 28, 2025 | March 31, 2025 |
4. What Version must you be on in AGRIS
If reporting via FIRE:
AGRIS V23.0.0.7 Created mid-January 2023
If reporting via IRIS:
AGRIS V24.0.0.3 Created mid-December 2024
5. Minimum Report Amounts and What Prints
Form Type | Minimum Reporting | What Prints on this Form |
|---|---|---|
1099-NEC | $600 | Freight Vouchers |
1099-MISC | $600 | Rent Vouchers - Attorney Vouchers - Medical Vouchers |
1099-INT | $10 | Interest Credits earned from prepay/payments on hold |
6. Recording of the Webinar can be Found Here for setting up voucher types and printing Forms.
This recording should be watched for general processing setup and printing.
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7. Recording of the Webinar - Creating FIRE format Electronic file for IRS.
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8. Recording of the Webinar - IRIS reporting to the Internal Revenue Service.
If you are Reporting via IRIS, all your name/address record must be updated to the new Registered Federal ID Description.
Quick Tip Instructions on how to Edit Registered Name id: https://culturatech.atlassian.net/l/cp/w0RgrTBA
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Basic Written Instructions on Printing 1099 and Creating the Electronic File
1. How to Print the 1099-NEC and 1099-MISC and 1099-INT Forms
To print the paper NEC/MISC/INT 1099s:
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Click Ok.
In the next screen, enter any filters you may use to limit what prints.
Enter the minimum dollar amount.
$600 for 1099-NEC
$10 for 1099-NEC & 1099-INT
Click OK.
CAUTION Message - Name IDs without Tax Payer Identification Numbers
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CAUTION! If there are Name IDs without Tax Payer Identification numbers the following warning will appear. If you get this warning, make note of the name ids and follow the instructions in the warning.
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2. 1099-NEC/1099-MISC/1099-INT Electronic File
To produce the electronic file for the IRS:
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Click Next > select OK > then select a printer for the paper report of what is placed in this file
CAUTION Message - 1099 Names Do Not have TIN Number
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If you receive the CAUTION screen, that is telling you that there are names receiving 1099 that you do not have TIN number.
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The system then creates the file IRSTAX or the IRIS_1099*_2024_####.csv files and it is ready to be uploaded to the IRS.
It is saved in your tax file location.
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The report should be kept as a record of the information included in the file submitted. |
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