1099 Season is Around the Corner!

Wednesday, October 26, 2016 - 8:30am

Mark your calendar! Vendor Registry will be holding a user group meeting for 1099 Reporting, Monday, November 14 at 9:00 a.m. in the Brynhild Haugland Room on the Ground Floor in the State Capitol building. We invite you to join us.

2016 1099 CHANGES:

  1. IRS has made changes to the filing due date. The new January 31 due date will affect all agency 1099 task deadlines!
  2. 1099-G Reporting for commodity groups. OMB will print 1099-G’s for all commodity groups that chose to take advantage of this service. There will be a special 10-15 minutes session at the end of the meeting to answer questions specific to commodity groups.

You can begin preparing for the 1099 season by starting to run the NDS_1099_MISMATCH and NDS_1099_ ACTIVITY queries. The ‘1099_MISMATCH’ query will identify vouchers paid with a different withholding status than the vendor setup (e.g. vendor is marked reportable but your payment was entered as nonreportable). Use the ‘1099_ACTIVITY’ query to view detailed information about your payments. These two queries will help you identify corrections that may need to be made by your agency.

If your agency makes payments to vendors not currently in PeopleSoft, now is the time to start collecting W-9’s and submitting a work request to Vendor Registry for the vendors to be setup. Once the vendors are setup, your agency can plan for any 1099 adjustments that must be entered. More information on this topic will be provided in the user group meeting.

OMB provides 1099 reporting for 1099-Misc, 1099-G, and 1099-S forms. If you have any questions on 1099 reporting, feel free to contact Vendor Registry at 701.328.2773. We will be providing additional information including deadline dates for your agency’s responsibilities at the meeting.