01 Dec State of Wisconsin 1099 Misc Filing Requirements

If you make 1099 payments, you must report them to 1099-MISC. Next, you`ll need to send your forms to the IRS, your 1099 provider, and the state (if applicable). What are your 1099-MISC state filing requirements? What are the Wisconsin State 1099-MISC filing requirements? Find your scenario below. If you made any of the following payments to a 1099 supplier during the year, you must report the amount on Form 1099-MISC: Ready to dive? Learn more about your 1099-MISC requirements for submission in each state: Recommended filing method: Combined Federal State Filing Program (CFSFP). Wisconsin State Deposit Agency: The Wisconsin Department of Revenue www.revenue.wi.gov/Pages/home.aspx state deadlines for 1099-MISC work in the same way. If the deadline falls on a weekend, the due date is the next working day. You can file your Form 1099-MISC electronically (e-File) with the state. Most states participate in the combined federal/state filing program, an e-filing program that optimizes your 1099-MISC requirements for state-by-state filing. If you submit your federal electronic file through Tax1099, you choose whether you want us to send your forms to the state as well.

We will automatically notify you of this registration requirement based on the information you enter into your forms. If a state is not part of the combined program and the state requires you to submit the form, it is your responsibility to file Form 1099-MISC directly with that state. Penalties for failure to submit accurate information returns apply if you: Important reminder: Non-employee compensation (the largest amount shown on information statements) is now part of Form 1099-NEC instead of Form 1099-MISC (box 7). The IRS does not forward 1099-NEC forms to the state, you must file directly with Wisconsin DOR (this applies to both paper and electronic filers). If you are a depositing employer in one of these states, simply report 1099-NEC, 1099-MISC, 1099-B, 1099-DIV, 1099-INT or 1099-R data to the federal government only. These states require direct storage: IA, IL, KY, NY, OR, PA, RI, UT, VA, WV, VT, DC. Note that you do not report non-employee earnings on Form 1099-MISC (these payments are posted on Form 1099-NEC). To learn more about Form 1099-NEC, see our blog post Make Room for the Revived Form 1099-NEC.

The States participating in the CF/SF PROGRAMME ARE: AL, AR, AZ, CA, CO, CT, DE, GA, HI, ID, IN, KS, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NJ, NM, NC, ND, OH, OK, SC, WI. NOTE: Participation does not mean that the state does not require you to submit directly. Please check the requirements directly with the relevant state Ministry of Finance. Click here Additional Submission Requirements: You may need to submit the Wisconsin WT-7 Reconciliation Form. Tax1099 offers these forms through the platform for $4.99. Most states participate in this program, which is a great relief for employers. As part of this program, the IRS shares 1099-NEC, 1099-MISC, 1099-B, 1099-DIV, 1099-INT, and 1099-R data with appropriate states. Scenario 1: No Wisconsin state taxes withheld or withheld, payments do not meet the federal threshold. With the PSHCP, every federal electronic file you submit through Tax1099, our platform automatically flags your forms based on state participation in the program. In this case, we file your forms electronically with CFSF status and the IRS forwards your forms to the state through the CFSFP.

No further action is required on your part. Would you like a PDF version of the 1099-MISC requirements for state submission (also with your 1099-NEC requirements!)? Download our FREE guide here. Note that the penalty for submitting a correct information return is separate from the penalty for not providing the correct beneficiary return. For this reason, you can get two separate penalties. Our W2 Mate software® makes it easy to report your 1099 forms to the IRS and Wisconsin Department of the Treasury, both electronically and on paper. Our 1099 software can import Wisconsin 1099 amounts from QuickBooks, Excel and other tax software. The IRS due date for Form 1099-MISC is February 28 (paper) or March 31 (electronic) of each year. And you must give sellers their copies by January 31. If this data falls on a weekend, your deadline to complete Form 1099-MISC is the next business day.

Attention should also be paid to tax filing deadlines. Late filing of the mandatory 1099 can result in penalties ranging from $50 to $280 per $1099, with a maximum of $1,130,500 per year for your small business*. The amount of the penalty depends on when you submit the correct reporting of information as follows: This page provides the latest resources for Wisconsin State 1099 filing, including compliance rules, electronic submission of Form 1099, due dates, reporting thresholds, and agency contact information. Scenario 3: Wisconsin requires a 1099 Misc return if Wisconsin state taxes have been withheld. These states are: AK, FL, NV, NH, SD, TN, TX, WA, WY. * In any case, the IRS considers you a small business if you have earned an average of $5 million or less in annual revenue in the last three tax years. Website: My Tax Account tap.revenue.wi.gov/mta/_/.