When tax season rolls around, dealing with W-2’s and 1099-NEC forms can be a huge added burden, especially considering most DIY software programs don’t offer the option to prepare and e-file W-2 and 1099-NEC forms. Let Howard Tax Prep LLC take care of the fling your W2's and 1099's while you use your time to generate more revenue! 

How can Howard Tax Prep LLC help me?

We will print and mail your forms to your employees W2, and/or contractors 1099's and e-file the forms directly with the IRS (for 1099s) and the SSA (for W-2s).

We file your forms daily, sometimes even multiple times per day during the busy tax-filing season.

We will notify you via email at each stage of the process (when you complete your transaction during check-out and when your employees W2, and/or contractors 1099's copies are mailed).

You get all of these services for a 1 time company setup fee of $35, and a nominal fee of $8 for each W2 issued & mailed per employee/1099 contractor.

Who has to file a 1099-NEC? 

If the following four conditions are met, you must generally report a payment as NEC.

• You made the payment to someone who is not your employee.
• You made the payment for services in the course of your trade or business (including government agencies and nonprofit organizations).
• You made the payment to an individual, partnership, estate, or, in some cases, a corporation.
• You made payments to the payee of at least $600 during the year.

Who has to file a 1099-MISC?
 

File Form 1099-MISC, Miscellaneous Income, for each person in the course of your business to whom you have paid the following during the year:

• At least $10 in royalties (see the instructions for box 2) or broker payments in lieu of dividends or tax-exempt interest (see the instructions for box 8).
• At least $600 in:
  1. Rents (box 1);
  2. Prizes and awards (box 3);
  3. Other income payments (box 3);
  4. Generally, the cash paid from a notional principal contract to an individual, partnership, or estate (box 3);
  5. Any fishing boat proceeds (box 5);
  6. Medical and health care payments (box 6);
  7. Crop insurance proceeds (box 9);
  8. Payments to an attorney (box 10) (see Payments to attorneys, later);
  9. Section 409A deferrals (box 12); or
  10. Nonqualified deferred compensation (box 14).

In order to file a W2, or 1099-misc, or a 1099-NEC, you must have:

• A signed W9 for independent contractors.
• A signed W4 for employees.
• A record of all payments made to contractors.
• A record of income taxes withheld, and FICA payments withheld. A record of all wages paid to employees including Federal & State income tax withheld, and FICA payments

Are there any exceptions in which I would not need to file?.

Some payments do not have to be reported on Form 1099-MISC, or 1099-NEC, although they may be taxable to the recipient. Payments for which a Form 1099-MISC, or 1099-NEC is not required include all of the following.

• Generally, payments to a corporation (including a limited liability company (LLC) that is treated as a C or S corporation). 
• Payments of rent to real estate agents or property managers. However, the real estate agent or property manager must use Form 1099-MISC to report the rent paid over to the property owner.
• Wages paid to employees (report on Form W-2, Wage and Tax Statement).
• Business travel allowances paid to employees (may be reportable on Form W-2).

How can I get started?

Complete this form with your company information and best contact information (our preferred method), or call our office at 855-743-5765 during our business hours of 10:00AM-6:00PM Monday through Friday, and 10:00AM-2:00PM on Saturday. You can also email us at info@howardtaxprep.com