1099 Online Filing Platform

The IRS has created a new online filing platform called the Information Returns Intake System (IRIS) that will allow taxpayers to electronically file Form 1099 series at no cost.  The IRIS online filing platform is scheduled to open January 9, 2023 and will be used to electronically file 2022 Form 1099 information returns. This new online format allows taxpayers to type information directly into the software.  Form 1099’s can be electronically created, edited, viewed, and filed without the purchase of software or a third-party service provider.

In order to use the IRIS platform, taxpayers will need to apply for a Transmitter Control Code (TCC).  This is an IRIS-specific TCC.  A TCC from the Filing Information Returns Electronically (FIRE) system will not work on the new IRIS platform.  The application for an IRIS-specific TCC will be available on December 12, 2022, on the IRS website.  IRS guidance states it can take up to 45 days to process an IRIS TCC application but hopes the process will take only a few days.

The IRS online platform is expected to be operational on January 9, 2023.  Currently, you must electronically file (no paper filings allowed), if you file 250 or more information returns (e.g. Form 1099 Series).  The IRS plans to reduce the 250 electronic filing threshold to 10 information returns sometime in the future.  If you are over the 10 or more filing threshold, the IRIS platform might be a good way for your business to transition to electronic filing.  The IRIS system will not replace the existing 1099 filing platform but will introduce a new option for small business owners.  Olsen Thielen’s Tax Department can help with your 1099 questions.

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