Bookkeeping in a business requires so many things to be furnished within a certain time frame so as to meet the standard set by various officialdoms – generating form 1099 is one among the prerequisites that a businessman has to file the form with the IRS.

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If you avail of services rendered by independent contractors or other service providers and you pay for the same in a financial year, then you are required to file form 1099 with the IRS so as to declare how much you have paid to the independent service provider.

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Form 1099-MISC is one of the most common taxation tools, which are used to collect the data on individuals’ income. Failure to meet the requirement may cause financial penalties. If you are new to it and you don’t understand how to file the form 1099 with the IRS, then dial support phone number for QuickBooks reporting help. 

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Here are some conditions that may require you to generate form 1099:

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• If you compensates for the services that you outsource.

• If you pays to individuals who is not you employee.

• If you pay at least $600 during the financial year.

 

So these are some conditions that may require you to file form 1099 with the IRS. It may sound challenging to generate the form every time whenever you pay at list $600 during the financial year to an independent service provider, but your QuickBooks can help you generate the form easily. Contact QuickBooks support technician for year-end reporting thought the form 1099. 

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Here are some steps suggested by QuickBooks tech support professionals that you can use to generate the form easily:

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• Start QuickBooks and go to the “Edit” tab

• Click “Preferences” and choose “Tax 1099”

• Go to the “Company Preferences” tab and choose “Yes”in the "Do You file 1099 MISC Forms" tab

 

Now you have to set up vendor in the accounting software. Here are the steps:

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• Choose “Vendor” from the menu bar

• Choose “Vendor Center” in the drop-down menu and do a right click on the name of service provider who you want to create form 1099 for

• Make sure the information of your vendor is correct

• Click “Vendor Eligible for 1099 Tax” and provide the tax ID number of the concerned vendor

• Click OK to set up the vendor information

 

And thus you can generate the form for the independent vendor who you have made the payment for the services. There are some potential issues that you may come across while creating form 1099 for your vendor. Contact a reliable QuickBooks technical support and create the form within your accounting software.