Your 1099-MISC tax documents are easily filed with Rentec Direct through a secure integration with Nelco Solutions, the leading experts in tax reporting solutions. Your property management software compiles all the relevant data from your account to create 1099-MISC forms that are mailed to your recipients and filed with the IRS, allowing you to meet deadlines and remain compliant with your tax obligations. You’ll find a video of how to file your 1099 tax forms with Rentec Direct below.
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.
- Learn more about 1099 Tax Requirements for Property Managers and Rental Properties
THE 2020 1099-MISC TAX DEADLINE
2020 1099-MISC Tax Deadline: January 31, 2020
This tax season, the IRS requires everyone to provide a 1099-MISC to their recipients by Jan. 31, 2020 and to the IRS by January 31, 2020, for e-filing and paper filing.
Keep in mind, the January 31st IRS deadline only applies if there is information in Box 7. If there is no information in Box 7, 1099-MISC forms are due to the IRS on February 28, 2020, for paper filing and March 31, 2020, for e-filing.
The penalties for failing to file 1099s can be expensive, so it is important to understand your obligations when it comes to 1099 requirements for your business.
HOW TO FILE 1099 TAX FORMS WITH RENTEC DIRECT
Rentec Direct provides simple solutions for filing 1099 Tax Forms with the 1099 Tax Assistant and integrated e-file solutions. 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. If you choose to work with a CPA to file your tax forms, you will access your Tax Assistant report and provide it to your CPA.
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
Nelco assists Rentec Direct clients with electronically filing your 1099s directly from your software. 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 2020 filing season, Nelco is offering you one free federal filing with code:
(1 free federal e-filing, mailing and online retrieval – expires 5/1/20).
Our friends at Nelco recently hosted a webinar for Rentec Direct clients to show us how to file 1099s through Rentec Direct’s simple tools. Check out the webinar recording below.
Remember, it’s crucial that your data is accurate. Before submitting anything to your CPA or the IRS, review the 1099 Assistant report and make sure the numbers match your records and verify that all receipts and payments have been recorded for 2019.
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 firstname.lastname@example.org. 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.
- Learn More about 1099 Tax Requirements for Property Managers and Rental Properties