Dynamics 365 Business Central 2024 Wave 1: E-file IRS 1099 forms without Integration-Part 3
Hi Folks,
Lets cont. on IRS 1099 part 3
Part 1:
Dynamics 365 Business Central 2024 Wave 1 (BC Version 24): E-file IRS 1099 forms without Integration-1.
Part 2:
Dynamics 365 Business Central 2024 Wave 1 (BC Version 24): E-file IRS 1099 forms without Integration-2.
E-File IRS 1099 forms without Integration using Magnetic Media:
1099 FIRE Magnetic Media lets you upload forms manually to the IRS by using the FIRE platform. This feature is available only for organizations that use the IRS 1099 features that became available in 2024 release wave 1.
If you have Business Central online, you can file IRS 1099 forms electronically through the IRIS API. Business Central only supports electronic filing. If you prefer not to use this integration, or you have an on-premises version, you can create Magnetic Media as a way to electronically file returns by using the IRS 1099 FIRE report.
From the search Icon, search for IRS 1099 FIRE.
Type in the calendar year. Enter Transmitter Control Code (unique 5-digit numeric code) correctly in case IRS needs to contact you. Enter the other Transmitter information.
Enter the required information under Vendor Information and click ok. Enable the “Test File” toggle to create a file you can review. Disable the toggle when you are ready to transmit the file.
Test file generated as text file.
Mark as submitted, once the form document is submitted to tax authorities manually.
Submit 1099 forms Using Integration via IRIS APIs will be available in one of the upcoming releases. After you submit the document to the IRS by using the API, the status of the IRS 1099 Form Document changes to Submitted.
Refer to below link for more details.
In case of any further assistance on IRS 1099 process, please reach out to us at sales@relgyatech.com
Thanks!!
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