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NOTES RELEASED
Forms:
2398337 - US Legal Change 2016 - 1099 and 1042 Smartforms and Adobe Forms
Files:
2403422 - US 2016 LC - 1099 and 1042 File Changes
-> This note contains relevant changes for 1099INT and 1042-S files. The format of the other files, i.e. 1009MISC, were not changed. Hence, this note has to be implemented only if you are generating 1099INT and/or 1042-S files.
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I have seen some incidents being raised regarding 1099 and 1042-S withholding tax forms for the tax year 2016 to be submitted to IRS in 2017.
Reading these incidents I saw that the following two questions are mainly being raised:
1) When will the notes for 1099/1042-S forms with the changes for tax year 2016 be released?
The notes will be released at the end of November, beginning of December. Following are the estimate dates for the notes release:
Tax Form |
Print-form |
Electronic File |
1099-MISC |
November 30, 2016 |
Dec 12, 2016 |
1099-INT |
November 30, 2016 |
Dec 12, 2016 |
1099-G |
November 30, 2016 |
Dec 12, 2016 |
1099-K |
November 30, 2016 |
Dec 12, 2016 |
1042-S |
November 30, 2016 |
Dec 12, 2016 |
2) Will the Smartforms still be delivered and supported for tax year 2016?
For on-premise ERP customers the Smartforms will be still delivered and supported for tax year 2016.