Business Central / NAV UG
Business Central / NAV UG
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E-Filing 1099s
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E-Filing 1099s
I have been asked about e-filing 1099s from BC/NAV since the IRS updated requirements to e-file if you have 10 or more.
The only functionality I see in BC/NAV is the printing of the 1099 forms. Has anyone else printed 1099s from BC/NAV and then electronically filed with the IRS? What is the process?
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3 Replies
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@Lewis_Rosenberg great question!. I would love to hear what others are doing.
We currently export the 1099 data to excel and file electronically through Yearli. it does require some manual effort to convert from BC report to Yearli required formatting but overall pretty smooth.
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This should be extant in Business Central already:
To submit the 1099 tax forms electronically
- Choose the icon, enter 1099 Form Boxes, and then choose the related link.
- On the 1099 Form Boxes page, choose the Vendor 1099 Magnetic Media action.
- Specifies the 1099 forms that can be exported.
The report uses the codes that apply to the form amount boxes from the 1099 Form Boxes page. The codes are mapped to the form boxes in the file layouts of this report, therefore the table data and report version for a particular tax year must be in agreement. If any custom codes are added to the table these must be mapped to the form boxes inside this object.
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Hi Lewis,
Sadly, maybe one day, NAV and BC only had the ability to create an electronic file that conformed to IRS specifications. You would then upload the form to the IRS on their website.
Search for: Vendor 1099 Magnetic Media and you are off an running. Nothing to change just run and save file locally.
Thanks,
Steve
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