A brand new on-line portal the place companies can dossier Shape 1099 collection knowledge returns without cost is now open, the IRS stated Wednesday.

The Knowledge Returns Consumption Machine (IRIS) is obtainable to companies of any dimension, however the IRS expects it to be particularly helpful for small companies that now dossier knowledge returns on paper. IRIS now accepts Paperwork 1099 for tax 12 months 2022 and later.

The gadget is loose, protected, correct, and calls for no particular device, Mike Maltby, IRS Small Industry/Self-Hired examination case program supervisor, stated all over a web-based information convention Wednesday.

IRIS must lend a hand the IRS reduce long run backlogs as taxpayers make a selection IRIS over submitting paper knowledge returns, Kyle Kampschroer, the mission supervisor for IRIS and an IRS Small Industry/Self-Hired department examination case income agent, stated all over the scoop convention.

Filers can use the platform to create, add, edit, and examine knowledge and obtain finished copies of 1099 collection kinds for distribution and verification, the IRS stated in a information unlock. Enrollment for the IRIS submitting platform is now open.

The Submitting Knowledge Returns Electronically (FIRE) gadget, which calls for particular device, will stay obtainable for bulk submitting Shape 1099 collection and different knowledge returns via a minimum of the 2023 submitting season.

Extra details about IRIS is obtainable at irs.gov/iris.

— To remark in this article or to indicate an concept for some other article, touch Martha Waggoner at [email protected].

Supply Via https://www.journalofaccountancy.com/information/2023/jan/new-online-portal-available-for-businesses-to-file-forms-1099.html