IRS provides new 1099 Filing option

[Lee B]

 

Copied from Accounting Today:

"As a result of Section 2102 of the Taxpayer First Act, the IRS is launching an online portal that will allow taxpayers to electronically file both small and large volumes of Forms 1099, according to Mankowski. 

"The new portal, known as Information Return Intake System, will launch in January 2023 for tax year 2022," he said.  "It's a means for smaller practitioners or small to midsized businesses that only do a handful of 1099s to go in and upload data. They will know that it's been filed and has been received and isn't just sitting there."

With IRIS, practitioners will be able to:

Submit small or large volumes of the 1099 forms series, and the system will retain the records from year to year;

File electronically without software; and

Choose an electronic filing option."

 

This sounds promising since it's free, although it doesn't say which 1099s will be available?

[BulldogTom]

We will see how it shakes out.   Almost sounds too good to be true.   I hope it is as advertised.

Tom
Longview, TX

[Catherine]

I'd rather blow $3.49 each and get EFileMyForms to take care of it all. I know for certain-sure that their system works.

[Lee B]

"IRS opens free portal to file information returns; new electronic option can reduce millions of paper Forms 1099 estimated to be filed by businesses in 2022."

"To e-file Forms 1099 with IRIS, apply for an IRIS Transmitter Control Code (TCC).  Once you get your TCC, you can log in to IRIS."

The lead up to this has been kinda misleading, because you still have to obtain a TCC code,

which now requires that you go through ID.me.

 

[jklcpa]

I thought about this briefly until I realized that it's been more than 2 yrs since I used the FIRE system directly and my TCC has most likely been inactivated by IRS.