FAYETTEVILLE, AR / ACCESSWIRE / January 20, 2020 / Tax1099.com, a leading eFile provider of 1099 Forms and other information returns, has delivered several new form types requested by customers for the upcoming 2019 tax season. The 2019 versions of all other forms launched recently as well.
"We hear from users each year the additional forms they would like us to provide on the platform," said Ed Pratt, Chief Operating Officer of Zenwork, Inc, the parent company of Tax1099.com. "We add a few each year, and this year we included six new form types."
The new form types available now on Tax1099.com are:
1097-BTC: This form reports bond tax credits. Issuers of certain bond tax credits must provide quarterly recipient statements plus an annual recipient statement.
1099-OID: This form reports the original issue discount, defined by the IRS as "the excess of an obligation's stated redemption price at maturity over its issue price (acquisition price for a stripped bond or coupon)."
Form 480.6B: This form reports other income subject to withholding to the government of Puerto Rico.
Form 1042: This form supplements the existing 1042-S form offered on Tax1099.com by allowing withholding agents to report withholding tax for US source income paid to foreign persons.
W2-G: This form reports certain gambling winnings where the IRS requires the winner to report the winnings as income.
Form 941PR: This form reports income taxes, social security taxes, and medicare taxes for employees and employers in Puerto Rico.
These forms add to the already robust offerings on Tax1099.com. Many users of the platforms will only need one form type, but the continual expansion of the form offerings enhances the usability of the platform for customers who require various form types, such as accounting firms.
Please visit "Tax1099.com - supported forms for Tax Year 2019-20" for more information on various forms supported by Tax1099.com.
Tax1099.com traditionally releases the current tax year form on November 1 each year, and this year was no exception. Forms such as the 1099-MISC, 1099-INT, 1099-DIV, and W-2 became available on November 1, 2019 for the 2019 tax filing year.
"The IRS started accepting 2019 eFile forms around January 10, 2020," said Pratt. "The majority of our users won't file anything until after the year ends, but we like to provide the forms early for those customers who are able to get an early start."
In addition to the current tax year form version, Tax1099.com also offers the prior two years. Having the additional years available allows taxpayers who did not file in a timely manner to return to compliance with the filing requirements. It also provides users the ability to file corrected forms if needed, even after the original filing period has ended.
Tax1099.com is an IRS authorized eFile service provider of various 1099 Forms, Payroll Forms, ACA Forms, and other information returns. Tax1099.com offers additional services such as W-9 electronic collection, TIN Matching, recipient statement delivery, and an Enterprise version for larger accounting firms and accounts payable organizations. The platform works well for anyone filing one form to millions of forms.
Zenwork, Inc has been the leading provider of end-to-end eFiling solutions through it's award-winning platform Tax1099.com and other SaaS applications such as Visitor Management System (Fidentity), Complete Cannabis Compliance Solution (ZenCanna), HVUT 2290 Taxes (EZ2290), eFileAssist, and Human Resources Information Systems (ZenworkHR). To know more about us and our products visit our site Zework.com.
April Rae Mallord
SOURCE: ZENWORK INC