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Important 1099 And 1096 Form Changes For 2017 – Did You Know?

Important 1099 and 1096 Form Changes for 2017 – Did You Know?

There have been some changes this year regarding 1099 and 1096 forms, not all of which have been highly publicized.

In years past, 1099s and 1096s were due to employees by January 31, but not to the IRS until February 28.

However, starting January, 2017, if you are filing Form 1099-Misc which includes amounts in Box 7: Nonemployee Compensation, you are now required to submit that form to the IRS by January 31, not February 28 per the IRS website.

If you’re not reporting amounts for Box 7, then the due date remains February 28.

You should also be aware of where you got the forms you are submitting to the IRS. Although you can find copies of the 1099 form online at the IRS website, this copy is not approved for submission to the IRS. You must use the red version that are approved by the IRS and are pre-printed. These forms are no longer available at the Eugene IRS office; they must be purchased or ordered online.

 

The materials available at this web site are for informational purposes only and not for the purpose of providing tax or legal advice.

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