A brand new on-line portal the place agencies can dossier Shape 1099 collection data returns free of charge is now open, the IRS stated Wednesday.
The Data Returns Consumption Machine (IRIS) is out there to agencies of any dimension, however the IRS expects it to be particularly helpful for small agencies that now dossier data returns on paper. IRIS now accepts Paperwork 1099 for tax yr 2022 and later.
The machine is unfastened, safe, correct, and calls for no particular tool, Mike Maltby, IRS Small Trade/Self-Hired examination case program supervisor, stated all through an internet information convention Wednesday.
IRIS must assist the IRS reduce long term backlogs as taxpayers make a choice IRIS over submitting paper data returns, Kyle Kampschroer, the mission supervisor for IRIS and an IRS Small Trade/Self-Hired department examination case earnings agent, stated all through the scoop convention.
Filers can use the platform to create, add, edit, and consider data and obtain finished copies of 1099 collection kinds for distribution and verification, the IRS stated in a information liberate. Enrollment for the IRIS submitting platform is now open.
The Submitting Data Returns Electronically (FIRE) machine, which calls for particular tool, will stay out there for bulk submitting Shape 1099 collection and different data returns via no less than the 2023 submitting season.
Extra details about IRIS is out there at irs.gov/iris.
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Supply Through https://www.journalofaccountancy.com/information/2023/jan/new-online-portal-available-for-businesses-to-file-forms-1099.html