E-file deadline rapidly approaching
The e-file deadline is just three days away. If you believe you will not meet the IRS reporting requirements before this deadline the time to file for an extension is now. Remember, it is better to file for an extension than to get slapped with expensive penalties for non-compliance. And why not? You are likely eligible for an automatic 6-month extension to file your federal taxes. It’s as easy as completing a form on the IRS website or doing it on paper with form 4868 (see IRS.gov for details).
This year according to IRS statistics over 80% of businesses have decided to e-file their 1099 tax forms this year rather than paper file. People want to file online because it is less of a hassle and allows the agency to process it quicker with a quick and ongoing ability to update tax information. There is less paper and less waiting which is crucial for most organizations with a large amount of 1099 forms.
If you are a TSC1099 user you have no need to worry. We have completed e-filing for all users and those who were unable to have successfully filed for extensions. Take the stress out of this process by outsourcing your IRS reporting and compliance to Tab Service Company. It is the easy, low cost, and accurate alternative.