eFile 1099-INT

Important dates to eFile 1099-INT

Filing Type	Due Date
Recipient Copy	Jan 31, 2024
IRS eFile	April 01, 2024
IRS Paper Filing	Feb 28, 2024

Why eFile 1099-INT with Tax1099?

eFiling starts at $0.65/form

How to eFile 1099-INT with Tax1099?

Login to Tax1099 account
Choose form 1099-INT
Enter form 1099-INT details
Review the provided information
Transmit the form 1099-INT to IRS
Deliver the recipient copies either through USPS or online

How Tax1099 can help you?

Here are some of the benefits of using Tax1099 to file your 1099 forms:

Unparalleled Accuracy

Tax1099 is meticulously crafted to ensure precise and error-free filing of your 1099 forms. By leveraging advanced technology, it minimizes the risk of costly mistakes, saving you time and reducing the likelihood of IRS penalties.

Effortless Convenience

Gone are the days of cumbersome paperwork and manual submissions. With Tax1099, you can seamlessly import data from your accounting software, streamlining the entire filing process. This unparalleled convenience empowers you to focus on what truly matters for your business.

Robust Security

Your data protection is a primary duty. Tax1099 holds both an ISO27001 and the SSAE-16 Type II certifications, a testament to its data security. These rigorous audit processes ensure that your sensitive information is handled within a framework of the highest standards of security and reliability. Your peace of mind is our top priority.

Exceptional Support

We understand that filing tax forms can be a complex and daunting task. That’s why Tax1099 offers an array of support resources to assist you at every step of the way. Our dedicated customer support team is just a phone call, email, or chat away. Rest easy knowing that expert guidance and assistance are always within reach to resolve any questions or concerns.

What are a few common errors that occur while filing 1099-INT?

The primary mistakes frequently encountered when completing Form 1099-INT include:

Inaccurate amounts, codes, or checkboxes.
Absence of payee TIN (SSN, EIN, QI-EIN, or ITIN) or incorrect payee TIN/Name combination.

Is there any way to correct errors made while filing form 1099-INT?

If there is a need to correct an IRS 1099-INT that has already been submitted to the IRS, it is essential to provide corrected copies of Form 1099-INT to the respective recipient(s).

To correct a previously filed Form 1099-INT with the IRS, utilize a separate Form 1099-INT and mark the “CORRECTED” box with an “X”. Ensure all necessary corrections are made on the 1099-INT Forms before transmitting them to the IRS.

If the error pertains to an incorrect TIN/ID, a written statement must be sent to the IRS to rectify the form.

What are a few reasons that IRS will issue penalties for filing 1099-INT?

Penalties from the IRS may be imposed for the submission of 1099-INT Forms under the following circumstances:

Failure to submit the 1099-INT by the specified deadline.
Submission of an improperly formatted paper form that is not machine-readable.
Utilizing the 1099-INT for an incorrect tax year.
Failure to use the accurate copy of Form 1099-INT.
Filing with an incorrect or missing Taxpayer Identification Number (TIN).
Submission of inaccurate information on the form.

In the event of filing a 1099-INT Form that is tardy for less than 30 days, the penalty amounts to $60 per form. This penalty increases to $120 per form if the filing is more than 30 days overdue. These penalties apply to corrected forms filed with the IRS. It is imperative to act quickly to avoid higher penalties as the issuance of a correct form moves further from the initial deadline.