The urgency to get your 1099s and W-2s done on time takes on added importance for tax year 2016. Businesses must now file all federal W-2s, and certain types of 1099s, with the IRS by Jan. 31, 2017.
These types of 1099s come into play for anyone paying an employee or contractor this year, and specifically apply if you’re filing Form 1099-Misc and reporting amounts in Box 7: Nonemployee compensation. If these circumstances don’t apply to you, the deadline is still Feb. 28 for paper filing and March 31 for filing electronically.
This can be overwhelming, but don’t worry … Sound Business Services (SBS) is here to help you meet all your deadlines. Here are three reasons why going with a professional to handle your 1099s and W-2s is so beneficial:
- #1: Less headache for you. No more staying up until midnight on Jan. 31 filling out paper forms. All you have to do is send us your vendor information, and we’ll take care of the rest. Better yet, if we are also providing your bookkeeping services, you have even less work to do, because we will already have access to virtually all the information we need.
- #2: More peace of mind. No longer do you have to worry whether you are in compliance with the latest 1099 rules. SBS will guide you through which vendors are eligible for 1099s, and which ones are not.
- #3: More money in your pocket. We strongly feel that reporting subcontractor wages to the IRS shouldn’t break the bank, and shouldn’t break you either. So, we offer affordable 1099 processing services, and whether you have three 1099s or 30, rates are reasonable.
We Are Here to Help
As you can see, doing 1099s and W-2s on your own can be a lot of work, and potentially lead to trouble for non-compliance. That’s why finding a professional to handle this is so important.
Contact us today to learn more about these services. You won’t have to worry about the complexity of 1099s and W-2s, meeting deadlines, or submitting stacks of paper to the IRS!