ONESOURCE 1099 Services - Monthly Overview

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ONESOURCE 1099 services offer a turnkey solution for 1099 information reporting. Simply transmit your payment files to us, and we handle the rest. The 1099 Processing calendar outlines responsibilities for all main activities in the 1099 information reporting process. With ONESOURCE 1099, time consuming tasks that were once performed by your tax department or IT department are turned over the experts at Thomson Reuters.

Contact us today to learn more about how ONESOURCE 1099 software and services can relieve your 1099 processing burden.

January

Client Tasks
  • Import year-end tax data into Calendar
  • Send recipient statements by Jan. 31
Thomson Reuters Tasks
  • Review reconciliation and management reports
  • Print and file Puerto Rico 480.7A and PR 499-R2
  • File state annual 1099 filings for KY, PA and WI as required
  • File MA 1099-HC forms
  • File prior year 4th quarter state reporting as required
  • File state independent contractor reports as required

February

Client Tasks
  • Receive recipient inquiries and enter corrections
Thomson Reuters Tasks
  • Send corrected recipient statements
  • Print and file all other Puerto Rico forms
  • Print and file Canada T4A, T5 and T5008 forms
  • Print and file Quebec RL-1, RL-3 and RL-18 forms
  • File all other state annual filings as required
  • File state independent contractor reports as required

March

Client Tasks
Thomson Reuters Tasks
  • File 1042-S statements by March 15
  • Send recipient 1042-S statements by March 15
  • Print and file Canada NR-4 statements
  • File forms 1099 and W-2 electronically by March 28 if no extension
  • File state independent contractor reports as required

April

Client Tasks
Thomson Reuters Tasks
  • Receive and load B-Notice tape for prior year
  • File current year 1st quarter state reporting as required
  • File state independent contractor reports as required

May

Client Tasks
Thomson Reuters Tasks
  • File forms 5498, 5498ESA and 5498SA
  • Send forms 5498, 5498ESA and 5498SA to recipients
  • File state independent contractor reports as required

June

Client Tasks
Thomson Reuters Tasks
  • File state independent contractor reports as required

July

Client Tasks
Thomson Reuters Tasks
  • File current year 2nd quarter state reporting as required
  • File state independent contractor reports as required

August

Client Tasks
Thomson Reuters Tasks
  • Receive and load TIN penalty notice (972-CG)
  • File state independent contractor reports as required

September

Client Tasks
Thomson Reuters Tasks
  • File state independent contractor reports as required

October

Client Tasks
Thomson Reuters Tasks
  • Receive and load B-Notice tape for prior year
  • File current year 3rd quarter state reporting as required
  • File state independent contractor reports as required

November

Client Tasks
Thomson Reuters Tasks
  • Mail B-Notice letters and W-9 to recipients
  • File prior year 4th quarter state reporting as required

December

Client Tasks
  • Begin backup withholding as appropriate
Thomson Reuters Tasks
  • Receive and load W-9s from recipients
  • File state independent contractor reports as required