Hands-On or Hands-Free Approach
We are ready to assist you and your business with the electronic filing of the 1099-NEC which is due on January 31, 2022. It is important to note that all other forms are due to the IRS on March 31, 2022 and all recipient copies must be furnished by January 31, 2022.
Customized Plans to Meet Your Needs
We’re thinking outside of the box to create value for our clients in different ways. We know customizability is an important factor during this time, so our goal is to ensure we are meeting your particular need.
Number of Forms 1-40 ($ 375)
Our pricing varies on forms filed and other factors. Reach out to us for an estimate on pricing based on your specific details. File your 1099 form electronically through our secure technology using pre-populated templates. Provide access to a secure self-service portal. Receive and process the completed template through a secure delivery portal. Review 1099 recipient payment summary information for completeness and reasonableness. Conduct Tax ID verification check for IRS compliance. Commence e-filing with the IRS and send out recipient copies. Notify client when filing is complete via email. Provide PDF copies of filed 1099s. Conduct address verification check with the USPS. Commence filing with any applicable states
Number of Forms 1-40 ($ 575)
Scrub your vendor files for W-9 compliance and get your business ready for the January 2022 filing deadline . Analyze client 1099 vendor data flagged for missing W-9 information. Complete the applicable template determined by your vendor and form requirements
Review 1099 recipient payment summary information for completeness and reasonableness
Conduct Tax ID verification check for IRS compliance. Commence e-filing with the IRS and send out recipient copies. Notify client when filing is complete via email. Provide PDF copies of filed 1099s. Conduct address verification check with the USPS. Commence filing with any applicable states
1099-B from brokerages: These are normally for passive investments or active trading and produce capital gains. There are strategies to reduce these capital gains or have them taxed at a lower rate. Contact us for more information about that or if you need us to file your return with 1099-B income.
1099-DIV or 1099-INT: These are typically from passive dividend or interest investments. Even if the amount is small, you must report this on your return or you may receive an IRS adjustment notice.
1099-K from Crypto: If you have received this, the IRS will allow you to file it on forms 8949 and schedule D, which will allow you to bypass self-employment tax. This will also allow you to adjust your basis when reporting the sale so you are taxed only on your gains rather than on the full sale price. We are registered as Crypto Currency Accountants, so you can contact us for assistance.
1099-MISC or 1099-K from merchant accounts (otherwise known as credit card processors or e-commerce income): This type of income has the most flexibility in terms of deductions – taxpayers are occasionally given a choice by their employer to be paid on a 1099 basis rather than W2, and we always encourage it. You may receive a 1099-K or 1099-MISC if you are freelance, self-employed, own your own business, receive contract income, engage in e-commerce, rent on Airbnb, or for a variety of other activities. We will go into some more detail as to the benefits of this type of reporting & some of the available deductions below.
Penalties will apply for failure to file W-2 and 1099 forms by the due dates. Due to the early due date of February 1, 2021, it is extremely important to provide the information to Baldwin CPAs as early as possible. Applicable penalties will be based on when the W-2 and 1099 forms are actually filed. The penalties for failure to file timely on forms W-2 and 1099 starts at $50 per 1099 and W-2. This penalty amount increases the later the returns are filed. Also, improper filing of information returns can result in other substantial penalties