Form 1099-C is used to comply with filing requirements for the cancellation of debt, as well as the acquisition or abandonment of secured property. This activity can occur with any number of applicable financial entities. Also known as the Cancellation of Debt, this form is filed for each debtor for whom an individual cancelled $600 or more. This number may create some confusion, as the 1099-MISC financial threshold for creating a filing requirement is also $600. If you are or represent an applicable financial entity, or if an “identifiable event” has occurred, form 1099-C must be used.
If you’re one of these applicable financial entities who need to report the cancellation of debt filing form, you’ll need to send copies to both the recipient and the IRS. To help, you’re going to need software support that enables you to handle these accounting needs reliably and cost-effectively. And this is where Advanced Micro Solutions (AMS) comes in.
Get Comprehensive Support for 1099-C Form Filings
The best form 1099-C support comes with our W-2/1099 Forms Filer platform. This software provides several essential features for data entry, reporting, printing, security, and networking features. This includes data importing for all common files, starting with Excel spreadsheets and ordinary text files. A common payee file and automatic save feature ensure your data can be easily reported and edited with confidence. This software also comes complete with several resources and the ability to respond to 1099-C form developments.
- Foundational Software Support: It starts with our W-2/1099 Forms Filer platform. This software provides a number of essential features for data entry, reporting, printing, security, and networking features. This includes data importing for all common files, starting with Excel spreadsheets and ordinary text files. A common payee file and automatic save feature ensure your data can be easily reported and edited with confidence.
- Software System Resources: As easy to use as our menu-driven platform is, we would never rest on the laurels of our software’s intuitive performance. That’s why we offer a free software demo, Support Knowledge Base, and a wide range of customer support services. These services include a tech support line, email communications, and Live Chat feature. We also have specific utility downloads and tutorials that can enhance your system’s functionality.
- Responding to Future Developments: With so many changes being made to the tax code each year, it’s important to stay up-to-date with applicable filing requirements. It’s telling, for example, that the IRS publishes standard 1099-C form instructions as well as 1099-C news and updates. AMS provides software notifications and updates to ensure your software support is never outdated. We can also respond to future developments that occur at your individual firm. Specifically, the W-2/1099 Forms Filer offers sophisticated module interaction that enables our business clients to choose and implement a custom software package.
Form 1099-C and AMS
The Cancellation of Debt form is itself straightforward, but filing a 1099-C form indicates a greater software support need, perhaps with several iterations of the 1099. As a business owner or accountant, you’ll likely need a suite of additional form support to keep your system running. AMS can help there, too.
Our ability to create custom software packages means we can serve a wider variety of accounting firms, financial institutions, and business needs with more attractive software pricing. While our Forms Filer software already provides support for the 1099-C form, consider the costs for our entire catalog of software module products:
Getting Started
AMS has been providing W2, 1099, and payroll solutions for more than 30 years. Our reputation for consistent excellence is well reflected on our Client Testimonials page. That said, the best way to see what our software can do is to download and view our free software demo. Once you’re ready to make a purchase, you can do so directly online. Or, if you still have lingering questions about the right software package for your business needs, contact our Sales and Information team at (800) 536-1099.