https://www.irs.gov/pub/irs-pdf/p1220.pdf
https://www.irs.gov/pub/irs-pdf/f1099div.pdf
Following items are included in the Mandatory updates for 2021 1099s new requirements:
1. New 1099 Standalone Application
2. 2021 1099's DIV New Requirements
1. New 1099 Standalone Application
In an effort to make any future 1099s requirements updates more efficiently and quickly without any interruption to Aeros ERP software, we have created the new 1099 Standalone Application.
A new icon will be available on the application server to access 1099's functions only.
Enter your credentials as usual and click on Login
1099 Form
1099 Electronic File
1099 Reports
2. 2021 1099's DIV New Requirements
Vendor 1099 Box – DIV- Added 2 new Boxes.
- Box 2e - Section 897 Ordinary Dividends
- Box 2f - Section 897 Capital Gains
Vendor 1099 Forms and Electronic file format have been changed accordingly to the new requirements.
