A Complete Checklist for Last-Minute Filers to Meet the 1099/W-2 Deadline

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Tax season is here! If you’re one of those last-minute filers scrambling to meet the 1099/W-2 deadline, don’t worry — you’re not alone. Filing at the last minute doesn’t have to be chaotic. With the right tools and a clear checklist, you can meet your deadline without breaking a sweat.

Here’s your go-to guide for getting those filings done right with TaxBandits.

1. Identify the Right Form to File

The first step in filing is determining which forms you need to submit. Filing the wrong form can lead to penalties and wasted time. Each form serves a specific purpose, so it’s crucial to identify the correct one based on your filing needs.

It’s also important to know which forms are due to stay compliant and avoid penalties. On January 31, you’ll need to:

• File and distribute recipient copies of Form 1099-NEC
• Distribute recipient copies of Form 1099-MISC (if no amounts are reported in boxes 8-10), 1099-K, 1099-INT, and other 1099 forms
• File and distribute recipient copies of Form W-2

Whether you’re submitting forms for independent contractors or employees, TaxBandits provides a user-friendly platform to guide you through the process. TaxBandits supports a wide range of forms, including:

• 1099 (e.g., 1099-NEC, 1099-MISC, etc.)
• W-2
• 94x Series
• ACA forms
• Correction forms

Simply select the form you need, and the system ensures compliance at every step.

2. Gather Information

Before you start filing, make sure you have all the required details on hand. Missing or incomplete information can delay the process and lead to errors. For example, when filing 1099-NEC forms with the IRS, you’ll need key details like your independent contractors’ TIN, the payments you’ve made to them, and any backup withholding requirements.

TaxBandits’ W-9 Manager simplifies the process by letting you send W-9 requests directly to contractors. This feature ensures you collect accurate information securely and efficiently. For accountants managing multiple clients, the BanditConnect portal allows you to gather, organize, and communicate with clients in a fully branded, customizable environment. This eliminates the need for time-consuming back-and-forth communication.

3. Confirm State Filing Requirements

Federal filing is just one part of the equation. Many states have specific filing requirements for 1099 and W-2 forms, including specific deadlines and reporting rules. Missing these can lead to non-compliance penalties.

TaxBandits offers full support for state filings, allowing you to handle both federal and state submissions seamlessly from one platform. Our system automatically identifies whether state filings are required based on the information you provide, ensuring compliance without the guesswork. This feature saves you time and prevents costly errors.

4. Double-Check Recipient and Employee Information

One of the most common reasons for rejected forms is incorrect recipient or employee information. To avoid this, take the time to verify details such as:

• Names and Social Security Numbers (SSNs) or TINs
• Payment amounts
• Addresses and contact information

TaxBandits streamlines this verification process by providing draft copies and summary reports. You can review these documents before the final submission to catch any discrepancies. If you discover widespread errors, you can export the data as a CSV file, make corrections in bulk, and re-upload it for quick updates. This ensures accuracy without wasting valuable time on individual edits.

5. Ensure Timely Distribution of Recipient Copies

Providing recipients with their copies of 1099 or W-2 forms is a critical step in the filing process. Failing to do so on time can result in penalties and unhappy employees or contractors.

TaxBandits offers multiple options to ensure timely distribution:

• Postal Mailing: Let us handle the printing and mailing of forms directly to recipients.
• Online Access: Invite recipients to a secure portal where they can access their forms anytime.
• Advanced Distribution: Combine both postal mailing and online access with our advanced distribution option, ensuring recipients receive their forms both digitally and in print.

These flexible options make it easy to meet deadlines while providing recipients with a convenient way to access their tax documents.

Wrap-Up

Filing your 1099 and W-2 forms at the last minute doesn’t have to be stressful. With TaxBandits, you have all the tools you need to simplify the process and meet your deadlines. From identifying the right forms to distributing recipient copies, our platform is designed to save you time and ensure compliance. Follow this checklist, and you’ll be ready to file confidently before the clock runs out. TaxBandits has your back every step of the way!