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Chad, I am in the process of filing taxes for myself and my…

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Hi Chad, I am in...
Hi Chad, I am in the process of filing taxes for myself and my parents now. If we do a 1099 MISC for my parents, should we report this to IRS as an employer? If so, the website says the deadline was Jan 31st for that, and we have not done it. Could you please guide on the action we need to take?
Submitted: 4 months ago.Category: Tax
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3/21/2018
Tax Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 4 months ago
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Tax
Satisfied Customers: 2,635
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
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Hello!

You will generally submit a 1099 as yourself unless you paid your parents from your business.

1099 are due January 31st. You should file yours as soon as possible.

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Tax Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 4 months ago

The most efficient way to apply to file information returns electronically is to submit the Fill-in Form 4419, Application for Filing Information Returns Electronically (FIRE), from the IRS FIRE home page. You may also go to Forms and Pubs and select the paper version of Form 4419.

Below is a link to IRS.Gov which describes in more detail how to file a 1099 electronically.

https://www.irs.gov/e-file-providers/filing-information-returns-electronically-fire

Please let me know if this has answered your question or if you have any additional questions.

When you have no further questions a positive rating of 5 stars is much appreciated.

Thank you!

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Tax Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 3 months ago

Please let me know if this has answered your question or if you have any additional questions.

When you have no further questions a positive rating of 5 stars is much appreciated.

Thank you!

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