1099 tax deadline 2019

Welcome to 2019 and another great year in property management. Besides new goals and resolutions for a fantastic new year, this marks the upcoming tax deadline. Thankfully, Rentec Direct property managers and landlords have access to helpful tools that make the 2019 tax reporting season as painless as possible.

One of the most important tax requirements involves filing 1099-MISC tax documents. Property managers are required to issue a 1099-MISC tax form for any service provider or owner who receives more than $600 related to their rental business.  

The 2019 1099-MISC Tax Deadline

2019 1099-MISC Tax Deadline: January 31, 2019

This tax season, the IRS requires everyone to provide a 1099-MISC to their recipients by Jan. 31, 2019 and to the IRS by April 1, 2019.  Keep in mind, the April 1st deadline only applies if there is no information in Box 7. If there is information in Box 7, the deadline is January 31st. The penalties for failing to file 1099s can be very expensive, so it is important to understand your obligations when it comes to 1099 requirements for your rental business.

How to File 1099 Tax Forms with Rentec Direct

Rentec Direct makes filing 1099 Tax Forms easy with the 1099 Tax Assistant and integrated e-file functions.  Watch a video on how to file 1099s through Rentec Direct here.

1099 TAX ASSISTANT REPORT

The 1099 Tax Assistant report gives landlords and property managers the necessary information to easily compile 1099 tax forms for the IRS, vendors, and owners.

Find the 1099 Tax Assistant Report: You can access the Tax Assistant Report under Financial Reports in the Reports tab of your Software.

How to E-File Your 1099s

Rentec Direct is integrated with Nelco Solutions, tax filing professionals, to assist you with electronically filing your 1099s.  1099 tax forms are automatically generated based on your financial records and vendor payments recorded in Rentec Direct throughout the year. Your 1099 tax forms are then sent to your recipients electronically and filed with the IRS through our secure partnership with Nelco.

For the 2019 filing season, Nelco is offering you one free federal filing with code RENTEC18.

Our friends at Nelco recently hosted a webinar for Rentec Direct clients to show us just how easy it is to file 1099s through Rentec Direct. Check out the webinar recording below.

WHO GETS A 1099-MISC FORM?

Owners – A property manager must use Form 1099-MISC to report rent paid over to the property owner in excess of $600 during the tax year.

Independent Contractors – A property manager must use Form 1099-MISC to report funds in excess of $600 paid to any unincorporated vendor or service provider including:

  • repairmen
  • plumbers
  • carpenters
  • landscapers
  • Attorney fees to handle an eviction or collect unpaid rent (even if the legal services were provided by a corporation)  

Basically, you must file a 1099-MISC form for anyone you paid more than $600 to in the course of a year that is NOT a corporation.

Learn more about the 1099 Tax Assistant from Rentec Direct.

Changes to 2019 Tax Filing Requirements for 2019

A few states have updated their requirements for 1099-MISC filing for the 2019 tax season.

  • Iowa – 1099s, with IA withholding, are required to be filed for 2018. They must be electronically filed. The 1099 filing deferral for 2016 and 2017 has been eliminated.
  • Kentucky – Lowered E-file threshold for W-2s and 1099s to 26. If you are filing less than 26 forms you may file a KY-5 form in place of E-filing. No paper W-2 or 1099 forms will be accepted.
  • Oklahoma – Due date for W-2, 1099, and OK W-3 changed to January 31st.
  • Pennsylvania – 1099-MISC with information in boxes 1, 2, or 7 or any payment over $5,000 now requires withholding.
  • West Virginia – Due date for W-2, 1099, and IT-103 changed to January 31st.

For questions about your 1099 filing requirements and how to complete your online filing through Rentec Direct, you are encouraged to reach out to Nelco at 800-266-4669 or nelco@nelcosolutions.com. Just let Nelco know you are a Rentec Direct client and you are looking for more information on using the helpful, integrated e-filing solutions offered by Rentec Direct and Nelco Solutions.

For the 2019 filing season, Nelco is offering you one free federal filing with code RENTEC18.

neclo free filing 1099s


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