Form 1099 and 1042-S Changes and Updates for 2024 Year-end Filing | Product

This essential year-end update will help your organization handle changes in IRS instructions, forms, regulatory changes and the electronic filing mandate for 2024 year-end filing of Forms 1099-NEC (Nonemployee compensation), 1099-MISC (Miscellaneous information), some other Forms 1099 and Form 1042-S (Foreign person’s U.S. source income subject to withholding).

Updates include:

• Mandate for electronic filing of Forms 1099 and 1042-S 
• Alerts for how the IRS FIRE and IRIS electronic filing systems will operate for 2024 filing 
• Form and Code changes for 2024 information returns 
• Due dates for Form 1099 and 1042-S filing and furnishing the recipient statements 
• Extensions of time to file or furnish: current forms and procedures
• Alerts on issues still pending in Congress, federal Treasury and IRS which could impact 2024 tax information return filing 

Learning Objective:

• Identify changes for calendar-year 2024 1099 and 1042-S filing which your organization will need to incorporate for the upcoming filing season