Use this program to add, change, or delete information contained on the 1099 magnetic media report.
1. Select option 0161.
2. The system will prompt for the Tax Year. Enter the tax year containing the 1099 tax information you wish to maintain.
3. The system will prompt for the 1099 Type. Use the drop down to select the 1099 form that contains the information you need to add, change or delete.
Valid entries:
MSC, Miscellaneous Income
INT, Interest Income
S, Proceeds From Real Estate Transactions
4. Click the Next button to continue or click the Exit button to return to the menu.
5. The system will prompt for the Payer EIN number. Click on the look-up box and select the number containing the 1099 information you wish to add, change or delete.
NOTE:
If you are adding INT or S tax types, you will need to enter the company’s tax identification number and complete the screen shown in Display Example 1. The Reel Sequence will be 001. All other fields shown are self-explanatory or described below.
6. The system will display the company information as shown in Display Example 1.
Display Example 1
To accept the information shown.
Verify the company’s tax reporting information shown on the screen. If the information is correct, click the OK button to continue.
To change any information shown.
Click within the field and make the change necessary then press the <Enter> key to accept the change.
To delete all records for the Payer EIN displayed.
Click the Delete button.
If you entered the wrong Payer EIN.
Click the Cancel button.
To return to the 1099 Type selection screen.
Click the Exit button.
NOTE:
If you have filed for and received your own transmitter number from IRS, enter your company information in the fields shown in the last section of this screen. If you do not have a transmitter number you will have to use the UDS information shown in Display Example 1.
7. Click on the Record Maintenance tab. The system will display the records screen as shown in Display Example 2.
Display Example 2
This screen displays all payees contained in the file for the 1099 Type shown at the top. The table will allow you to add, change, or delete any of the information deemed necessary.
To Add A Payee To The File
You may find the need to add additional payees to the 1099 file. For instance, you may have a miscellaneous vendor that you were not keeping 1099 information on that now requires a 1099. Also, if you need to file 1099-S (Proceeds from Real Estate Transactions) and 1099-INT (Interest Income) you will have to add these payees here. To add a record, click in the first available cell under the CtrlNum column. Use the following information to complete the row of information required.
CtrlNum
Enter any internal reference number you wish to use. This number should be something to help you reference where this information originated (i.e. a file number for the record).
Valid Entries: Numeric, 12 digits.
TIN Type
Enter either 1 for Business or 2 for Individual.
Valid Entries: Numeric, 1 digit.
Payee TIN
Enter the payee's tax identification number (including dashes).
Valid Entries: Alpha Numeric, 11 characters.
Payee Name
Enter the payee's name as you wish it to appear on the tax form.
Valid Entries: Alpha Numeric, 40 characters.
Name Control
Enter the first four letters of the payee's last name or the first four letters of the company name.
Valid Entries: Alpha, 4 characters.
Foreign Country
Enter 1 if the payee address is outside the United States; otherwise, leave this field blank.
Valid Entries: Numeric.
Payee Address
Enter the payee's address as you wish it to appear on the tax form.
Valid Entries: Alpha Numeric, 40 characters.
City
Enter the payee's city as you wish it to appear on the tax form.
Valid Entries: Alpha Numeric, 40 characters.
State
Enter the official postal abbreviation for the state or country as you wish it to appear on the tax form.
Valid Entries: Alpha, 2 characters.
Zip Code
Enter the zip code for the city.
Valid Entries: Numeric, 5 digits.
Rent
If the tax form is for a landlord, enter the amount of rent being filed.
Valid Entries: Numeric, 10 digits including the decimal place
Nonemployee Comp
If the tax form is for a vendor, sales associate or any other independent contractor, enter the amount of nonemployee compensation being reported on the tax form.
Valid Entries: Numeric, 10 digits including the decimal place
Once you have completed the row review the information displayed on the screen. If all the information is correct click the Add Row button; otherwise, return to the cell containing the erroneous information and make the correction before clicking the Add Row button.
To Change Information on a Payee in the File
Locate the record within the table. Click within the cell containing the erroneous information. Make the correction then press the <Enter> key to accept the change.
To Delete a Payee in the File
Click within the cell under the CtrlNum column of the record you wish to delete. Click the Delete Row button. The system will prompt “Delete the Highlight Row?” Click the Yes button to complete the deletion process; otherwise, click the No button to cancel the deletion process.
WARNING!
Records immediately deleted from the system.
To Exit The Table
Click the Exit button.