This manual contains tips and step-by-step guidelines to help you complete year-end procedures quickly and efficiently.
In addition, you may want to read about Preparing for Year-End and Backing Up Your Financial Data. Or, select a topic from the list of common year-end tasks or the table of contents. You can also enter a search term to search year-end procedures.
In the Form 1099 setup, we added a new option for you to print your state tax ID without withholding state income or state taxes.
If you need to correct your 1099s after they've been printed or e-filed from ACS, you canunder the Period End Reports section.
The following states have tax changes for 2017: Idaho, Illinois, Kansas, and Maine.
Form 1099 reports miscellaneous income paid to independent contractors (nonemployee compensation). If you've paid an independent contractor $600 or more or royalties over $10 during a calendar year, you should file Form 1099 for that vendor. Most churches and organizations file Form 1099 as a part of year-end procedures.
Any vendor with invoices marked as 1099 and paid in the selected tax year receives a 1099. If the vendor is marked as a 1099 vendor during setup, all invoices for that vendor are marked as 1099 purchases unless you clear the 1099 option when entering invoices. For vendors not marked as 1099 vendors, you can mark an invoice as a 1099 purchase when entering invoices.
|After entering invoices, you can edit a vendor’s record to add or clear the 1099 option.|
Maybe your ACS program has been installed on different computers since you e-filed last year. But, this year when you try to tax e-file, you're being prompted to create a new account.
Here's what you can do to avoid having to establish a new account (which would cause you to lose your e-filing history):
If you can't remember the password, click Forgot Password? and a new password will be sent to the email address associated with the account.
Here's the official IRS documentation: https://www.irs.gov/pub/irs-pdf/iw2w3.pdf
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Common Year-End Tasks