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Published on February 3, 2022

IRS 1099 electronic tax filing added to darwin

AccountTECH announces the addition of 1099 electronic tax filing to darwin software.

darwin software from AccountTECH now includes electronic tax filing for 1099 NEC, 1099 MISC, and 1099 INT.

After a brokerage has determined WHO should get a 1099, darwin software now creates the 1099 FIRE files that are required for electronic filing and uploads the 1099 files to the IRS for you. Different types of payees need to be reported on different 1099 forms, darwin automatically puts agents, suppliers, buyers, sellers, referral companies, cobroke agencies, landlords...anyone you have paid...on the correct 1099 form and creates the 1099 FIRE file following the IRS guidelines. Since AccountTECH is an IRS approved source for Fire file submission, the darwin software delivers 1099 data to the IRS for all of your companies.

darwin software has always been the most robust and flexible accounting tool for calculating and printing 1099 reports for real estate brokerages. Since brokerages (and the CPAs that support them) often have different ideas about what values should be included on agent 1099 forms, darwin has always allowed brokerages to determine how to calculate the values on an agent's 1099. darwin allows inclusion of certain deductions into the agent's 1099. Brokerages often will add back to a 1099 for agent bill deductions, tax deductions for a province, state or federal and retirement account withholdings.

Before printing 1099 forms for distribution (which is also included in darwin), users can manually adjust 1099 totals if needed. Users can add 1099 for suppliers who were paid with cash - and they can choose whether to calculate agent 1099 on either a cash or accrual basis.

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