New IRS Portal for Form 1099 Series
The IRS has announced that businesses can now file Form 1099 series information returns using a new online portal, available free from the IRS. Known as the Information Returns Intake System, this free electronic filing service is "secure, accurate and requires no special software," according to the agency. Although any business can use it, the IRS says it may be especially helpful to any small business that currently sends its 1099 forms on paper to the IRS. Said IRS Acting Commissioner Doug O'Donnell, "This simplifies filing for those issuing 1099s and helps recipients receive information timely. The launch of IRIS can help reduce the millions of paper Forms 1099 we project will be filed in 2023 and demonstrates our commitment to finding useful and innovative ways of reducing paperwork on the business community and others issuing 1099s. This is part of the larger effort underway to make improvements and…read more...