Are you one of those who file 1099 Information Returns every year? Searching how to completely avoid the hassles in filing a 1099 R Form online & ended with wasting time.
Here’s the complete guide to put an end to the never-ending searching process. Yes, with the below step-by-step instruction businesses can file Form 1099 R online hassle-freely to the Internal Revenue Service. Besides, you can also avoid Form 1099 R rejections & stay far from penalties and interests.
Table of Contents
- Check Form 1099 R Filing requirements
- Keep 1099 R Tax Form filing info handy?
- Choose the best Form 1099 E-file Provider
- Fill-in 1099 R Details Correctly
Before you start filing a 1099 R Tax Form, check “What is IRS Form 1099 R” as well as “Who must file a 1099 R”. Filing a 1099 R Form without meeting the requirements may lead to unnecessary filing. Moreover, you may end up wasting time. So, the first thing every business owners need to do is to “Check Form 1099 R Filing requirements”.
As per the IRS norms, File Form 1099 R for each individual to whom your business has made the designated distributions of $10 or more from:
- Profit-sharing retirement plans, Individual Retirement Arrangements;
- Annuities, pensions, survivor income benefit plans, etc;
- Charitable gift annuities;
- Total disability payments from life insurance contracts etc;
Keep 1099 R Tax Form filing info handy?
Secondly, after meeting Form 1099 R requirements, it’s better to have information beforehand. Having filing info handy helps you in getting relief from error filing. Gradually, errors happen mostly when you file an information return in a hurry. Filing 1099 in a hurry means you are near to the deadlines. When you are filing a 1099 R at the last minute or else within the deadline, gathering filing details consumes lots of time. In most circumstances, you may miss a few of the details. This could lead to error-filing. Lastly, you end up facing Form 1099 R rejections. Moreover, if the deadline crosses, you may be subject to penalties. So, the best thing to avoid hassles is “gathering Form 1099 R filing details beforehand”.
Choose the best Form 1099 E-file Provider
You are all set. After meeting Form 1099 R filing requirements & having information handy, your business is ready to file “Form 1099 R”. Here we go, there are two methods to file a 1099 R i.e., paper file & e-file. Among these two methods, the IRS recommends every business choose “E-file” with a trustworthy firm.
A trustworthy form 1099 e-file provider is the one that has undergone a number of screening tests & approved by the IRS. Among the numerous 1099 e-file providers choose the best. The best 1099 e-file provider is the one that meets your e-file needs. This includes bulk uploading, IRS audit support, TIN matching software, bank-level security, etc.
Fill-in 1099 R Details Correctly
Lastly, after choosing the best Form 1099 e-file provider, check whether it provides e-file service for the 1099 R Form. If yes, then choose the “1099 R” from the dashboard & go on filling in the required details. The IRS instructs every business individual to provide 100% accurate info on 1099 Tax Forms. Those who fill in the 1099 Form with incorrect or inaccurate info may face unwanted penalties. So, be careful when filling out the 1099 information return form. Finally, it is better to double-check the filled-in information before transmitting it to the IRS.
Have you got the required info on how to avoid hassles in file Form 1099 R online? Hurry up! Form 1099 Online is the trustworthy & IRS-approved e-file provider. Register for free & start filing 1099 returns as low as never before.