Anyone who works for a company or organization regularly receives an IRS 1099 form. If someone works for different organizations, they will get a lot of IRS 1099 forms. The 1099 form is a document that you must fill out when you earn $600 or more during the tax year. You get this form when you make money from a source other than your employer. You also get an IRS 1099 form if you earn money from an investment.
1099 Form Purpose
You need an annual report of interest, dividends, and other taxable income to file your tax return after receiving any of the forms given below;
- Form 1099 – INT
- Form 1099 – DIV
- Form 1099 – MISC
- Form 1099 – NEC
- Form 1099 – K
- Form 1099 – R
- Form 1099 – S
Other documents in the 1099 series?
These are IRS forms that you must fill out yourself. You can file your return either manually or electronically. To fill out your 1099 form online, many recipients visit the website sodapdf.com, where they can quickly fill out their IRS 1099 form without any inconvenience.
Types of IRS 1099 Form
Other than the types of IRS 1099 forms mentioned above, there are a few more. These forms are;
- Form 1099 – B
- Form 1099 – C
- Form SSA – 1099
- Form 1099 – G
- Form 1099 – Q
- Form 1099 – LTC
- Form 1099 – SA
- Form 1099 – OID
From Where Can You Get Your 1099 Form?
You will receive your form through email or post from the organization where you are working or getting money. Ensure that you have given the correct residential address or a valid email address to get your 1099 form.
If you didn’t receive any post or email, you should contact the sender yourself to inquire about your Tax Return Forms. You must check the given instructions and necessary information, such as the time to file your return, the deadline, the required documents, etc. Remember that it is your responsibility to submit your income tax returns well before the deadline.
Comparison of Manual and Online Filling
Manual form filling is challenging. Sometimes, you need to hire an accountant who can do this job perfectly and without errors. With the advancement in information technology, every department has improved its processes and prefers to do everything electronically and online.
Similarly, you can submit your income tax return forms online quickly and conveniently. Manual filling can cause errors, and you can skip any required field, but filling your forms online lowers the chances of missing any necessary lot.
Filling out manual forms takes days as you have to deliver them through the mail. On the other hand, online forms take only a few seconds and save precious time you might like to spend on different day-to-day or business activities.
Online form filling saves you money because you have all the instructions and videos on the internet to fill out your forms, so you don’t have to hire a professional and experienced accountant. Record-keeping becomes easy through online options.