An online portal has been established for the filing Form 1099 series information returns. The Internal Revenue Service has opened the Information Returns Intake System (IRIS), for free electronic filing of the forms.
Iris currently accepts 1099s only for tax year 2022 and later
Uers can create, upload, edit and view information and download completed copies of 1099-series forms for distribution and verification. Information can be keyed in or uploaded via the use of a downloadable template.
Returns can be acknowledged in 48 hours or more. Automatic extension can be submitted while corrections to filed returns can be made through the platform.
Filers can submit automatic extensions and make corrections to information returns filed through the platform.
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,” IRS Acting Commissioner Doug O'Donnell said in a prepared statement.
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards. Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that. A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind