SP Payroll and Tax Services makes 1099 reporting simple and cost-effective, regardless of your company’s size. As a 1099 client, you can take advantage of a full range of 1099 outsourcing services including:
Form 1099-DIV, Dividends and Distributions, is used to report dividends, capital gains, nontaxable, and liquidation distributions.
Form 1099-B reports the proceeds from any sales of non money market funds in non-retirement accounts and is used to calculate capital gains and losses
A 1099-C must be provided if a federal government agency, certain agencies connected with the Federal Government, financial institution, credit union, or an organization having a significant trade or business of lending money (such as a finance or credit card company) cancels or forgives a debt you owe of $600 or more
1099-E Student Loan Interest Statement is the information return on which financial establishments, government agencies, and educational institutions that receive student loan payments are required to report to the Internal Revenue Service. The form is used for claiming the Student Loan Interest Deduction, as provided by the Taxpayer Relief Act of 1997.
A 1099-MISC is a type of tax form used to report miscellaneous income for individuals and companies who have been paid $600 or more in non-employee service payments during a calendar year with the exception of royalty payments of $10 or more.
Form 5498-ESA reports your Coverdell ESA contributions for the prior year. You are not required to attach this form to your income tax return.
Form 5498 is submitted to the IRS by the trustee or issuer of your individual retirement arrangement (IRA) to report contributions, including any catch-up contributions, and the fair market value of the account. You are not required to attach this form to your income tax return.
SP PAYROLL & TAX SERVICES
PO Box 28921 Columbus, Ohio 43228 PHONE: (614)203-5134 FAX: (614)636-4717