1099-MISC & 1099-NEC Tax Forms Reporting

Form 1099-MISC & Form 1099-NEC Outsourcing Services

SPS/GZ offers comprehensive outsourcing solutions for all IRS Form 1099 processing services, including 1099-MISC, 1099-NEC, 1099-INT, 1099-DIV, 1099-R, etc. During the busy calendar year-end financial and income tax reporting season, it makes sense to take one more task off your to-do list and let SPS/GZ manage this critical function, saving time and preserving critical resources. SPS/GZ prides itself on providing top-notch services with a pricing structure that is flexible and reasonable.

We would be honored to be your trusted partner and assist with all of your Form 1099 processing and e-filing requirements. Outsourcing Form 1099 services saves business owners valuable time and money. It also lends peace of mind to clients knowing that certified and experienced professionals are providing support and advice for complex issues. SPS/GZ stays abreast of new IRS and state requirements from year to year. For the 1099-NEC form, which is required for reporting Nonemployee Compensation Income (formerly Box 7 of Form 1099-MISC), the Internal Revenue Service requires companies to e-file if issuing 250 or more 1099 forms by January 31st, making outsourcing a must for most companies. Additionally, Form 1099-NEC is not part of the Combined Federal/State Filing Program (“CF/SF”), meaning that individual state filings will also be required for some states. The SPS/GZ 1099 processing solution allows for easy form creation, 1099 e-filing, and seamless form amendments without the need to buy and manage software. SPS/GZ also provides filing-only services with the IRS or individual states for any form type.

SPS/GZ IS A COMPLETE FORM 1099 OUTSOURCING SOLUTION

SPS/GZ has been a leading provider of 1099 outsourced solutions since 2010.  We provide IRS-approved Form1099 processing and e-filing services (to the IRS and required states) to clients of all industries and sizes, from small businesses to Fortune 100 corporations.  Our complete outsourcing solution for all 1099 forms, including 1099-MISC, 1099-NEC, 1099-R, 1099-DIV, and 1099-INT includes very competitive pricing with exceptional client service.  All of our professionals work in the USA and are trained and certified. We do not outsource the 1099 filing work to foreign entities.   You will be assigned a dedicated representative who will not only know your company and understand your unique issues or concerns but will also be readily available by phone and email to provide support and answer questions. We handle the entire 1099 process for you, so you no longer have to deal with software updates, filing hassles, printing, mailing and form amendments. SPS/GZ will take care of all your 1099 federal and state e-filing needs so that you can focus on your key business.

1099 Review Service

SPS/GZ conducts a thorough review of data by professionals to identify potential errors and missing information and to ensure that data is formatted correctly.  We also conduct complimentary TIN-Matching (Tax ID verification) services before tax reporting season each year to help clients minimize errors and penalties.

1099 Printing & Mailing

As part of our 1099 outsourcing solution, we provide complete printing and mailing services for all 1099 forms.  We handle all of your printing and mailing needs regardless of volume. Our system prints the 1099 forms on pressure-sealed envelopes with perforated edges for maximum security of this sensitive information.  Our pricing includes all postage and handling, plus 1099 e-filing service, electronic archiving, and unlimited corrections of forms.  We partner with you to ensure that you meet all of your 1099 tax filing requirements.

1099 Filing Service

As part of our complete 1099 outsourcing package, we e-file 1099 forms with the IRS by the designated deadlines.  We participate in the Combined Federal/State Filing Program (“CF/SF”), which means that when we transmit your information to the IRS, the data gets transmitted also to the participating states.  Additionally, SPS/GZ provides full-service state filing services for any forms or states that are not included in the CF/SF. Our 1099 e-file service is robust and includes confirmation of transmission for clients.   Clients have expressed how painless the process is without the burden of learning a software solution for e-filing with the IRS and states. We make sure that all your 1099 reporting requirements are met in order to minimize penalties.

1099 Correction Processing

It is common for 1099 forms to have reporting errors due to the volume and nature of data being reported.  Many times, vendors and contractor workers contact companies to report a discrepancy in the reported amount on the form.  Also, TIN-matching errors, whereby the Taxpayer’s Name and Tax ID Number (either Social Security Number or Employer Identification Number), do not match the records in the IRS system, are common and can be minimized through completing complimentary TIN-Matching services in advance.  SPS/GZ understands that mistakes happen. That is why we are here to help you correct those errors. Our system allows clients to autonomously change any information or amounts in form fields by simply logging into our secure portal. SPS/GZ’s platform tracks all changes, providing an audit trail, and corrections are automatically e-filed with the IRS, so you don’t need to worry about amending forms that were previously filed. We do not charge any extra fees for the correction service unless a special data project is requested.  This process, including the 1099 e-file service for amendments, has helped many clients avoid or limit penalties imposed by the IRS.

Let SPS/GZ be your trusted 1099 tax form reporting provider. Our solution allows companies to simply upload their 1099 data file to our secure portal in a few easy steps. We take the 1099-MISC reporting from there.

Below are the features of our robust 1099 outsourcing solution:

Review of data by certified professionals to ensure information meets the IRS regulations.
Creation of various 1099 forms, including 1099-MISC and 1099-NEC forms.
Mailing of 1099 forms to recipients.
E-filing with the IRS.
Complimentary TIN-Matching services.
Printing and mailing of forms via First Class Mail.
Competitive pricing.
Includes features of spsgzXchange™ portal.

SPS/GZ can save your company money and time and ensure compliance

SPS/GZ is a leading provider of Information Return Services

1099-NEC

Box 1 – Used to report nonemployee compensation payments over $600 to a business or individual who is not an employee. Box 4 is used to reporting federal income tax withholdings.

1099-MISC

Used to report miscellaneous income such as rent, royalties, other income (which would include legal settlements), federal income tax withheld, fishing boat proceeds, medical and healthcare payments, etc.

1099-INT

Used to report taxable Income received as interest. The 1099-INT form would be issued by a bank or other entity due to investments or accounts that earned interest income.

1099-DIV

Used to report taxable dividends and other distributions that were paid to an individual. The 1099-DIV form is typically issued by banks or other financial institutions.

1099-R

Used to report any distributions over $10 from pensions, IRAs, profit-sharing plans, and annuities paid to an individual.

1099-K

Used to report transactions that were received through a payment card transaction (e.g., credit cards, debit cards, stored-value cards) or third-party network transactions that were more than $20,000 in gross payments AND more than 200 transactions.

1099-B

Used to provide information about securities involved in a transaction handled by a broker. Helps recipients calculate capital gains and losses from such transactions.

1099-C

Used to report cancellation of debt. If an individual has a taxable debt of $600 or more, that is forgiven, the lender is required to provide him or her with Form 1099-C and file the form with the IRS.

1099-CAP

Used to report changes in control or capital structure. The form is furnished by the company to shareholders who receive cash, stock, or other property from an acquisition of control or a significant change in the corporation’s capital structure.

1099-PATR

Used to report income received over $10 from patronage dividends and other distributions by a cooperative as described in the Internal Revenue Code.

1098

Used to report the amount of interest and related expenses paid on a mortgage if over $600. Lenders issue Form 1098 to homeowners so they can claim deductions on their federal income tax if they are the primary borrower.

1098-T

Used to report potential credits for qualified tuition and related expenses on federal income tax. Form 1098-T is issued by colleges, universities, and other institutions to show payments for qualified education expenses, such as tuition, fees, and textbooks.

5498

Used to report IRA contributions to the IRS. Form 5498 is filed with the IRS by the IRA trustee or issuer.

In addition to the various 1099 forms, SPS/GZ also provides IRS reporting for:

1042-S

Used by non-US citizens or non-US businesses to report any US-based income received. This includes foreign partnerships, foreign banks, estates, or trusts, etc. Form 1042-S is also used to report U.S.-sourced scholarships and grants received by a foreign student.

3921

Used to provide employees with information relating to Incentive Stock Options (ISOs) that were exercised during the year. Form 3921 is issued by the employer for each exercise of ISOs. These can be issued on consolidated statements or separate forms.

3922

Used to report initial transfers of stock acquired by an employee pursuant to the terms of an Employee Stock Purchase Plan (ESPP). A company issues Form 3922 to employees, and files with the IRS, to document information relating to the transfer of the shares.

1095-C

Used to report an offer of health insurance to employees (and dependents if the entity is self-insured), as well as the cost to the employee for coverage, and whether the employee enrolled. All Applicable Large Employers (ALEs) with at least 50 full-time, or full-time equivalent employees, are required to furnish a Form 1095-C to their employees and file a copy with the IRS.

1094-C

Used as a transmittal form, similar to a cover sheet, for the 1095-C forms. Form 1094-C accompanies the 1095-C forms when filing with the IRS to provide information on the ALE(s) size and whether they offered minimum essential coverage according to ACA regulations. The 1094- C form is not issued to employees.

1095-B

Used to report to the IRS that an individual had minimum essential coverage (MEC) for their health insurance. The providers of MEC (such as insurance carriers) are required to furnish Form 1095-B to individuals.

1094-B

Form 1094-B is used as a transmittal form that must accompany the 1095-B forms when filing with the IRS.

Organizations & Accolades

Contact us to learn how SPS/GZ can be your company’s trusted partner for stock plan administration and tax form reporting services.