1099 Data Preview File for Payments Issued via Payroll

NOTE: The 1099 Data Preview file is NOT a confirmation of 1099 forms filed with the IRS or intention to file.  ASAP is happy to help file any necessary forms. However, we request annual authorization each year to provide 1099 services.

How to Access & Review Your 1099 Data Preview File

In January, your organization's primary payroll contact will receive an email notification when the 1099 Data Preview file is available to download from your ShareFile Client Portal. The 1099 Data Preview file is informational only; it is NOT a list 1099-NEC forms filed with the IRS. This report is for your reference only to review potential 1099-NEC eligible payments made via our payroll services. The file contains totals of payments made via ASAP's payroll services to vendors and independent contractors who may be considered 1099-NEC eligible recipients. If additional payments were made outside of ASAP's payroll services, those payments are not reflected in the data preview file totals.

We recommend the following tasks for accuracy:

  1. Confirm who will be processing 1099 forms for your organization. Will you be processing 1099 forms in-house or would you like to engage ASAP's 1099 Services to process ALL of your 1099 forms? We recommend a single source of 1099 data production to avoid errors or confusion with recipients.
  2. Review payer (your organization) informational details (legal name, EIN, address) for accuracy.
  3. Check vendor/independent contractor names, tax ID numbers (EIN / TIN / SSN), and addresses against latest W9 forms on file. Please also review to ensure vendors or contractors listed require a 1099-NEC form.
  4. Compare the data preview file's 1099-NEC totals by vendor against your accounting records to ensure no additional payment amounts should be added when preparing 1099-NEC forms (Example: Payments issued directly to the same vendor/individuals outside of payroll processing would not be reflected in data preview file totals.)
  5. Securely share the updated results, including any additional 1099 vendors or contractors, with the person or organization who will be producing your organization's 1099 forms this year.

1099 Data Preview File Video

In this short video, Mark Betts, ASAP Vice Chair, explains what you should look for when reviewing the 1099 Data Preview file prior to filing 1099 forms.

 

Related Articles