Editor's Note: December is "Managing Your Year-end Month" at Insightful Accountant, including a series of features to help you prepare for year-end. This feature is intended to give you a time-line for getting 1099s ready using QuickBooks Online.
We have already given you a Payroll feature for QuickBooks Online at Year-end and QuickBooks Desktop. This is a 1099 dateline as it relates specifically to QuickBooks Online for 2021-2022. Whether you are a ProAdvisor, bookkeeper, accountant or QuickBooks Online User, these dates are a necessary timeline to help you stay on top of the due dates the Internal Revenue Service has set for this year when it comes to 1099 forms.
In order to prepare 1099s within QuickBooks Online, select the Payroll menu, then Contractors and Prepare 1099s for the required steps.
Liz Scott recently wrote an outstanding article—Getting Started with 1099s in QuickBooks Online—in her "QBO Monday Minute" series, which explains your options for 1099 filing. You should definitely read and review that article hand in hand with this one.
Dateline for 1099s
Deadline Summary**
- Jan. 31, 2022 is the due date for furnishing Form 1099 statements to payees
- Form 1099s are due to the IRS by Feb. 28, 2022 if filing by paper
- Form 1099s are due to the IRS by March 31, 2022 if submitted by e-file
(**For additional types of 1099 forms beyond 1099-MISC and 1099-NEC, please consult specific IRS guidelines and reference materials at IRS.gov.)
Before Year-End
- Confirm your contractor information before year-end: contractor’s legal names, business types, Federal Tax ID, Social Security Number, etc.
- Request and review IRS Form W-9 (Request for Taxpayer Identification Number and Certification) from any contractors with deficient information
- Run year-end 1099 reports and review
January 27, 2022
- If you have chosen not to have QuickBooks Payroll pay and file your federal and state payroll taxes (in other words, you have "opted-out of automated-payroll taxes"), you should e-file your 1099 forms on or before Jan. 27, 2022, before 5 p.m. (PST), so they can be processed and postmarked to your contractors by Jan. 31, 2022.
- If you are not e-filing your 1099 forms from QuickBooks yourself, but using an alternative e-filing service, check with your e-filing service for deadlines that apply.
January 31, 2022
- If you use QuickBooks Online Payroll Core, QuickBooks Online Payroll Premium or QuickBooks Online Payroll Elite, and you have chosen to have QuickBooks Payroll pay and file your federal and state payroll taxes for you (in other words, you have "opted-in to automated payroll taxes"), your 1099 forms will be mailed to your contractors (to the addresses indicated in the contractor’s QuickBooks profile) no later than Jan. 31, 2022.
- If you have not already e-filed your 1099-NEC forms, you must e-file them by Jan. 31, 2022, 5 p.m. (PST) for those forms to be considered timely submitted to the Internal Revenue Service.
February 28, 2022
- If you do not intend to e-file your 1099-MISC forms, you must mail your forms to the Internal Revenue Service no later than Feb. 28, 2022 for those forms to be considered timely submitted to the Internal Revenue Service.
March 29, 2022
- If you choose to submit your 1099-MISC forms via e-file through Intuit’s e-filing service (rather than as part of your Core, Premium or Elite payroll subscription), you must submit your 1099-MISC e-file data by March 29, 2022 so that they can be processed by March 31, 2022.
- If you are planning to use an alternative e-filing service to submit your 1099-MISC forms, check with your e-filing service for submission deadlines that apply well prior to the March 31, 2022 deadline.