WASHINGTON — Businesses can now file Form 1099 series information returns using a new online portal, available free from the Internal Revenue Service.
Known as the Information Returns Intake System, this electronic filing service is secure, accurate and requires no special software, the IRS reported. Though available to any business of any size, IRIS may be especially helpful to any small business that currently sends its 1099 forms on paper to the IRS.
“This simplifies filing for those issuing 1099s and helps recipients receive information in a timely manner,” IRS Acting Commissioner Doug O’Donnell said. The launch of IRIS “can help reduce the millions of paper Forms 1099 we project will be filed in 2023 and demonstrates our commitment to finding useful and innovative ways of reducing paperwork on the business community and others issuing 1099s.”
Filers can use the platform to create, upload, edit and view information and download completed copies of 1099-series forms for distribution and verification.
With IRIS, businesses can e-file both small and large volumes of 1099-series forms by either keying in the information or uploading a file with the use of a downloadable template.
Currently, IRIS accepts Forms 1099 only for tax year 2022 and later.
The IRS encourages any business, especially those that now file on paper, to switch to e-filing through the platform and share in its benefits:
E-file security standards keep information safe and protected.
The portal is an accurate filing method that automatically detects filing errors and provides alerts for missing information.
Filers can submit automatic extensions and make corrections to information returns filed through the platform.
The IRS acknowledges receipt of the return in as early as 48 hours.
The platform keeps issuer information year-to-year and prior years filed through this platform, providing convenience to 1099 filers.
E-filing eliminates trips to the post office and can reduce office expenses for paper, postage and storage space.
Enrollment for the IRIS filing platform is open, and filers can begin the enrollment process.
The Filing Information Returns Electronically system will remain available for bulk filing Form 1099 series and the other information returns through at least the 2023 filing season.