SSA 1099 form 2019 is a Benefit Statement. These forms are mailed out by the IRS each year to those who pay taxes on their Social Security benefits. The form shows the total amount of benefits an individual has received from Social Security for the previous year. Seniors and those who rely on Social Security should get their SSA 1099s in the mail each January. They are then used by individuals to report this income on their IRS tax return. The form is also available to download via the taxpayer’s Social Security account.
The SSA 1099 form 2019 has existed long before 2019, but it can still cause some stumbling blocks. Luckily, most business owners won’t need to busy themselves with this form. The Social Security administration generates these documents, as that is the body that provides and facilitates payment.
That said, some accountants may need to be familiar with this form, how it works, and how to report it on a taxpayer’s return. We’ll walk you through everything you need to know, as well as how a software tool can help with the experience of dealing with SSA 1099 Form 2019.
Information Included on the SSN Benefit Statement
Upon receiving this form, the individual – be it the taxpayer or an accountant – should review the included information. This form has not changed much over the years. The statement will include the following personal information:
- Beneficiary’s Social Security Number
- Benefits Paid
- Benefits Repaid to the Social Security Administration
- Net Benefits
- Voluntary Federal Income Tax Withheld
While business owners won’t need to deal with this form, personal accountants should get used to reviewing the Benefit Statement with their clients. If any information is incorrect, contact the Social Security Administration as soon as possible.
Should You Worry About SSA 1099 Form 2019?
As a business owner, there are very few reasons why you may need to deal with the SSA 1099. Unless you are helping a friend, or if you have a part-time contractor who needs information clarified, you won’t come into contact with this form.
However, those working as CPAs or personal accountants will need some familiarity with the SSA 1099, especially if you work with older clients. While you won’t have to file the form yourself, you should have a SSA 1099 form calculator on-hand, just in case.
In all cases, business owners and accountants who handle 1099 forms should have a software tool to help. Even if you don’t need SSA 1099 support, the increasing number of contracted workers has many scrambling to find a solution. We at Advanced Micro Solution are available to help.
Our 1099/W-2 Forms Filer is a great foundation for a personalized accounting software tool. Fill out and file forms directly from the platform.
While our 1099/W-2 Filer does not support the SSA 1099, it doesn’t have to – only the Social Security Administration needs to worry about filing this. However, those who handle accounting processes for other entities should be familiar with this form and processes around the 1099. We can certainly help with that.