The Untied States Internal Revenue Service requires that you send a 1096 form as a summary of each 1099 form type you transmit on paper. Payables generates the report on a preformatted form from the Internal Revenue Service.
When you run the 1099 Forms report, Payables summarizes all payments of 1099 MISC reportable invoice distributions and populates a table for 1096 information. You can then submit the 1096 Form report to run off this data. You can generate a 1096 form for each of your tax reporting entities.
Prerequisites
Run the 1099 Forms report.
Insert and align the 1096 forms in your printer.
You submit this report from the Submit Request window. See: Submitting Standard Reports, Programs, and Listings.
Tax Reporting Entity. The name of the reporting entity for which you want to submit the 1096 Form report.
Payer Name Source. The source from which Payables obtains the payer name for the report.
Address. Address line 1 for the address entered in the Location window.
Location. Location Name entered in the Location window.
Tax Entity. Entity Name entered in the Reporting Entity window.
FILER'S name, street address, city, state, and ZIP code. The name and address of your tax reporting entity. You can define the name and location of your tax reporting entity in the Location form. You then assign the location to your tax reporting entity in the Reporting Entity window. Payables prints the name according to the Payer Name Source parameter you choose.
1 Employer identification number. The tax identification number of the tax reporting entity. You enter this tax identification number when you define your tax reporting entities.
2 Total number of forms. The total number of 1099 MISC forms that you created for 1099 suppliers.
3 Federal income tax withheld. The total amount of Federal income tax withheld for all 1099 suppliers. This is the sum of all paid distributions for all 1099 suppliers that have an income tax type value of MISC4.
4 Total amount reported with this Form 1096. Total amount of 1099 MISC payments.
Payables prints an X in the 1099-MISC box to indicate the form type being filed.