2018 came and the celebrations followed the New Year with a bang. Surprise gifts and parties followed the people as they took a leave from the incessant work schedule. 2018 is now in the full flow with businesses inundated with new tax rules and regulations to understand and comply. Businesses of all size in terms of revenue and workforce are in touch with accounting services to prepare themselves for the grueling 2018 tax season. One of the earliest business tax reporting tasks that must be completed is preparation of information returns known as Forms 1099. The easier way to complete the task is to delegate it to specialized accounting service providers like Outsourced Bookkeeping.
What is Forms 1099?
Tax form used to report certain kinds of income to the IRS. The IRS measures irregular income by matching information on Form 1099 to individual tax returns that are filed. From Form 1099, the IRS determines tax liability and tax refunds for people with nonstandard income sources. The form primarily reports payments to independent contractors, rental property income, income from interest and dividends, sales proceeds and other miscellaneous income.
Outsourced Bookkeeping is in the art of delivering robust tax filing with ease and being adept at handling different variants of forms 1099. Tax preparation service is paramount for any business and we handle all the tax issues with an ease.
Problems associated with late filing of form 1099:
- Inability to file timely
- Letdown to include all information required
- Disaster to report correct information
- Botching the reporting electronically, if required
- Failure to provide Form 1099 to recipients by January 31st or an approved alternate date
Avoiding the failures of paying the form 1099 is crucial to garnering the right amount of capital required to grow the firm in right manner while streamlining the efficiency. Form 1099 correct filing is an epitome of a growing and a valuable organization. We at outsource Bookkeeping work relentlessly 24/7 * 365 to give the correct strategy of outsource tax preparation for correct growth and future of your firms.
Benefits of choosing Outsourcing Bookkeeping in handling form 1099:
- Affordably priced and conveniently configured within the application, you can’t pass on the opportunity to take advantage of this service. Free up your valuable resources during one of the busiest times of the year.
- Purchasing supplies is no more a constraint.
- Producing and printing recipient copies is not required.
- Mailing copies is not an issue for we electronically submit it all.
- Filing directly with the IRS.
- We offer timely and reliable 1099 filing services at an affordable price.
Accounting and tax outsourcing is our core asset and we provide all round the clock help to firms to handle the accounting and taxation worries of 2018 with ease. We create the best service experience for the clients in the form 1099 filing and handle all the worries with a brilliant ease.