Form 1099-MISC is just what it sounds like: a miscellaneous category for 1099 business filings. This is something of a remainder category for payments and distributions that aren’t already classified as interest, dividends, real estate sales, education savings accounts, pension and retirement plans, as well as other less common 1099 filing forms. It sounds easy enough, but, like most things in the tax code, it isn’t so simple. Despite being a remainder category, 1099-MISC is actually the most common type of 1099 form filing.
If you’re looking for 1099-MISC filing support, a software solution is the answer. The W-2/1099 Forms Filer from Advanced Micro Solutions has all the tools you need to distribute accurate and timely 1099s, no matter which version of the form you need.
The most common type of requirement for form 1099-MISC is the non-employee compensation for self-employed contractors. Non-employee compensation is a growing category as more workers switch to contracted labor. The trend largely explains the growing need for 1099-MISC filing support.
Consider these figures reported by business media company, Fast Company: “As of May 2015, 15.5 million people in the U.S. were self-employed…an increase of roughly 1 million since May 2014….By 2020, a separate study estimates that more than 40% of the American workforce, or 60 million people, will be independent workers—freelancers, contractors, and temporary employees.”
As businesses continue to recognize the importance of self-employed workers for meeting their budget allotments, productivity goals, and rapidly evolving labor needs, they also stand to put more time, focus, and energy into buying their 1099 software solution – even with the eventual introduction of the 1099-NEC.
Form 1099-MISC Software Support from AMS
Most, if not all, of the support you need for your 1099 filing forms can be found in our foundational software platform, the W-2/1099 Forms Filer. This software includes a wide range of essential features that provide the efficiency and reliability that businesses are looking for in a 1099 software solution.
- Data Entry: Information can be entered through a spreadsheet or on a screen that resembles the actual 1099-MISC form. These options reduce errors and/or generate optimal data entry efficiency. You can import/transfer data from pretty much any file format as well.
- Printing: Easy form alignment also reduces errors. Print data on preprinted forms, including large-batch print jobs. With Software-Generated Forms, you can even print many of the forms themselves.
- Data Reporting: Verify data accuracy with SSN/TIN hash totals. Data reports include tables, worksheets, client letters, recipient lists, and mailing labels—with the use of encrypted PDF files for security.
- More Features: Free network installation and multiple PC installation (site license may be required). Payer backup and restore. SSN verification files.
That said, form 1099-MISC is often only one of the 1099 tax filings that apply to businesses. The W-2/1099 Forms Filer provides support for all your 1099 forms, including filings for interest, dividends, real estate sales, retirement plan distributions, and many others. Some larger businesses, especially those specialized in commercial and financial activity, and for independent accounting and payroll professionals, may need additional support to address their more extensive filing needs. Luckily, we have a full catalogue of software tools to help.
AMS Software Products and Costs
- W-2/1099 Forms Filer (required for other purchases)
- Payroll Module
- E-File Direct
- Software-Generated Forms
- Affordable Care Act Filer
- 1042-S Filer
- Forms Filer Plus