Casa Realty Group LLC

Significant Changes Coming to 1099 Filing Requirements

October 26, 2023

Big changes are coming for 1099 this year and the filing process will change for many businesses. Whether you are a landlord, real estate investor, or property manager, be sure you understand the new changes to 1099 filing requirements for the upcoming tax year.

Before the bustle of the holiday season gets underway, now is the time to ensure you have all of your 1099 prep completed and you fully understand how to file your 1099 forms according to this season’s new requirements.

The 1099 filing process will change for many businesses. The e-file threshold for 1099 forms has been reduced. Even if you were previously not required to electronically file your 1099 forms, this year, you may need to e-file.

On February 23, 2023, the IRS released final regulations that lowers the e-file threshold for certain information returns from 250 returns to 10 returns for calendar year 2023 (filed in 2024). This regulation includes the total for all aggregated forms filed.

The IRS is requiring filers with 10 or more forms to electronically file for the upcoming 2023 tax year (to be filed in 2024). Keep in mind, this regulation includes the total for all aggregated forms filed (1099, W-2, 1095, etc.). If you are a Rentec Direct client, the e-filing process is already available to you through your property management software.

Electronically file with ease through Rentec Direct e-file services with Nelco.

Through a secure integration with Nelco Solutions, the leading experts in tax reporting solutions, Rentec Direct software makes filing your 1099 tax documents easy.

No extra data entry is necessary, no need to pay an expensive accountant, your property management software compiles all the relevant data needed to create 1099-MISC and 1099 NEC forms from your account.

With a push of a button, that data transfers from your Rentec Direct account to the Nelco Solutions site, which creates the appropriate 1099 forms, mails copies to your recipients, and e-files with the IRS, as well as applicable state agencies, allowing you to meet deadlines and remain compliant with your tax obligations.

Three Reasons to E-file Through Rentec Direct:

  1. Convenience: Yes, it is now mandatory for most businesses to e-file, but it also provides you time savings and convenience. Especially when your data seamlessly transfers from your property management software to Nelco’s filing system and you use the print and mail service with Rentec e-file services. You will no longer need to stuff envelopes or mail recipient copies.
  2. Print & Mail service: Print and mail services make sending recipient copies especially easy when e-filing. Using the service that prints and mails recipient copies for you, can help you hit the January 31st recipient deadline, as well as save you time and supply costs. Rentec e-file services with Nelco provides this service.
  3. No Hassle State Filing: Keeping up with state requirement changes and the various deadlines is tough. Rentec e-file services helps you meet all state requirements in a matter of a few clicks. Nelco’s program works with state agencies to help correctly submit all your filing information.

New to E-filing Your 1099 Forms?

End your year with less stress and make 1099 filing easy. Rentec Direct and Nelco give property managers and landlords the easiest way to complete year-end tax reporting. You can find information on how to e-file in the Rentec Direct Knowledgebase, contact your amazing Rentec Direct success team, or join the informative webinar hosted by Jason Jenison at Nelco Solutions.

Join Our Live Training:

This live training with Rentec Direct and Nelco shows you how to easily connect your data from your property management software to Nelco for quick and easy electronic filing. Don’t wait until the last minute to prepare for the upcoming tax deadline. This training will walk you through the steps you need to take to meet your 1099 filing requirements.

How to File 1099 Tax Forms

This online event will be hosted live, and a webinar recording will be available for any participants who sign up and cannot attend at the specified time.

This live training will cover:

  • What IRS regulations have changed and how it affects you
  • How to e-file your 1099 tax forms with Rentec Direct
  • Rentec Direct access and Nelco Solutions login
  • Federal 1099 filing options
  • State 1099 filing options
  • How to email copies to recipients
  • How to print and save copies
  • How to process corrections
  • How to check the status of your filing

Register for our upcoming webinar. November 9, 2023 11:00 AM – 11:30 AM PST: How to e-file your 1099s with Rentec Direct and Nelco:

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