E-filing 1099 Forms Directly from Sage Intacct: An Overview
With January 31st approaching, the countdown is on for businesses and tax professionals to complete their 1099 filings before the deadline. Just because time is running low doesn’t mean that you need to sacrifice simplified filing or an efficient workflow.
TaxBandits offers robust features and functionality to promote accuracy and efficient e-filing, regardless of when you begin the filing process.
One of the great options for streamlining the filing process is using our direct integration with Sage Intacct.
Here is an overview of the integrations, their benefits, and, most importantly, how you can get started!
Sage Intacct 1099 E-filing Powered by TaxBandits
Beginning in the 2022 tax year, TaxBandits has worked with Sage Intacct extensively to build a direct integration that allows for the seamless transfer of data and filing of 1099 Forms with the IRS.
With this partnership, Sage Intacct customers can automate their 1099 filing process. After enabling the integration from their Sage Intacct account, Sage customers can begin importing their form information to TaxBandits. After importing data, Sage clients can review their generated forms, opt-in to State filing and recipient copy distribution options, and transmit them from their TaxBandits account.
IRS Updates to E-filing Thresholds for Tax Year 2023
With the January 31st deadline just around the corner, now is the time for businesses and tax professionals everywhere to complete and file their required 1099 Forms with the IRS.
Due to some major updates to the IRS e-filing thresholds, businesses are now required to e-file any number of information returns that exceed 10 in a calendar year. Since this total of 10 includes every different type of form, this will affect the majority of businesses out there.
Here’s an easy example: If you need to file 10 1099 forms and 10 1095 Forms, this would be 20 forms collectively, requiring you to file them electronically.
The key takeaway here is that this represents a positive change in the long run, given that e-filing is more efficient, cost-effective, and accurate. However, in the short term, it may necessitate adaptation for smaller businesses or those that have adhered to the traditional paper filing method over the years.
Benefits of the Sage Intacct + TaxBandits Integration
There are many! While the 1099 deadlines are looming ahead, with many as close as January 31st, now is the time to get acquainted with the integration process. The major benefit of 1099 E-filing powered by TaxBandits is the convenience factor. You can easily bring all of your 1099 data directly from your Sage Intacct account to a TaxBandits account. This allows you to:
- An exclusive pricing promotion for the 2023 tax season: 10% off federal filing fees and free online access for recipient copies.
- Eliminate manual data entry and the administrative time that this wastes.
- Bring your data to TaxBandits in just a few clicks.
- E-file 1099s quickly with automated forms, eliminating the need for spreadsheets or data formatting.
- Ensure accurate filings to avoid penalties, corrections, and multiple filing fees with automated validation catching common errors.
- Provide secure self-service online access to 1099 recipients for seven years through a dedicated online portal at no additional cost.
- Let TaxBandits handle the printing and mailing of recipient copies with affordable Postal Mailing services.
IRS Updates to E-filing Thresholds for Tax Year 2023
With the January 31st deadline just around the corner, now is the time for businesses and tax professionals everywhere to complete and file their required 1099 Forms with the IRS.
Due to some major updates to the IRS e-filing thresholds, businesses are now required to e-file any number of information returns that exceed 10 in a calendar year. Since this total of 10 includes every different type of form, this will affect the majority of businesses out there.
Here’s an easy example: If you need to file 10 1099 forms and 10 1095 Forms, this would be 20 forms collectively, requiring you to file them electronically.
The key takeaway here is that this represents a positive change in the long run, given that e-filing is more efficient, cost-effective, and accurate. However, in the short term, it may necessitate adaptation for smaller businesses or those that have adhered to the traditional paper filing method over the years.
Enable 1099 E-filing Powered by TaxBandits Today!
Ready to get started with the process of seamless 1099 e-filing? Check out this blog for a step-by-step guide to enabling the integration from your Sage Intacct account and e-filing. You can also check out this video to see the process in action.
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