1099-K Form – Copy A Federal

Official 1099-K Forms

Form 1099-K must be filed by every PSE (payment settlement entity), which in any calendar year makes one or more payments in settlement of reportable payment transactions, with respect to each participating payee for that calendar year.

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1099-K Form Copy A Federal 1up 

Payment Settlement Entity

Form 1099-K must be filed by every PSE (payment settlement entity), which in any calendar year makes one or more payments in settlement of reportable payment transactions, with respect to each participating payee for that calendar year.

How to Choose the Right 1099 Forms

OPTIONS FOR 1099-MISC FILING

  • Your Accounting Software: Print 1099-MISC forms with compatible forms
  • Specialized 1099 Software. Print and e-file 1099-MISC forms if your current software doesn’t.
  • Online 1099-MISC filing. Enter or import data and we print, mail and e-file for you.

NEW FORMS FOR 2020

If you have used 1099MISC to report nonemployee compensation in Box 7, you MUST CHANGE to 1099NEC forms in 2020. Use the new 1099NEC (Non-Employee Compensation) to report payments of $600+ to contractors, freelancers, gig workers and more. 

Learn More About 1099NEC Forms

NEW E-FILE REQUIREMENTS FOR 2020

If a payer files 100 or more 1099 or W2 forms for 2020, they MUST E-FILE! This will change to 10+ forms in 2021, so get prepared now! 

Easy 1099 E-Filing

TYPE OF FORMS

NUMBER OF PARTS

The number of 1099 pars needed is based on government filing requirements.

  • Copy A: Federal Copy for the IRS
  • Copy B: Recipient Copy
  • Copy C: Payer Copy
  • Copy 2: State and Local Copies

Read more on our blog: Decoding 1099-MISC Copy Requirements

3-PART STATES: AK, CA, FL, GA, IL, IN, IA, KY, LA, MD, MI, MO, NV, NH, NM, NY, OR, SD, TN, TX, VT, WA, WY

4-PART STATES: AL, AR, AZ, CA, CO, CT, DE, DC, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MS, MT, NE, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, UT, VT, VA, WV, WI

5-PART STATES: AL, AZ, CO, CT, DE, HI, ID, ME, MA, MN, MS, MT, NE, NC, ND, OH, OK, PA, SC, UT, WI

1096 FORMS

Transmittal 1096 forms are required only if you are printing and mailing 1099-MISC Copy A to the Federal Government. One 1096 is required to summarize all 1099s for a single payer.

1099 ENVELOPES

Order compatible 1099 envelopes to ensure mailing information aligns correctly in the windows.

1099 FILING DEADLINES

  • January 31 – All  W2 & 1099 Recipient Postmarked; 1099-NEC and W2 Federal Copy A Postmarked or e-filed with IRS
  • February 28 – Paper Copy A filed with the IRS for all 1099s except MISC
  • March 31 – E-filed copies to the IRS for all 1099s except MISC

These are Federal filing deadlines. Most states follow the same dates.

E-filing Thresholds are Changing Drastically!

In an effort to modernize the department and serve taxpayers better, the Department of Treasury has implemented major changes in requirements for businesses to e-file 1099 & W2 forms.

As part of the Taxpayer First Act, many businesses will no longer be able to submit paper forms. One of the main changes of the act is the lowering of the threshold of information returns in order to be required to e-file.

The following filing thresholds below will be enforced in the upcoming calendar years:

2020: Companies with 100+ Forms Must E-File
2021: Companies with 10+ Forms Must E-File

FOR PARTNERSHIPS, the thresholds are:
2020: Partnerships with 100+ Forms Must E-File
2021: Partnerships with 50+ Forms Must E-File

The act also requires that all partnerships with more than 100 partners file on magnetic media. Partnerships for IRS purposes are small businesses with 2 or more owners that are not classified as sole proprietorships or corporations.

Easy e-filing from Discount Tax Forms! 

Discount E-file is an online e-filing service that can also print and mail your forms for you! It’s so easy! Simply enter or import your data and we do the hard work for you. Learn More >

Discount Efile 1099 & W2 system for online efiling and mailing. A simple and secure way to get all types of 1099s and W2s filed fast, no forms or software needed. DiscountTaxForms.com

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