Compliance

Tribal Casino’s Filing Guidelines and Tips

We're here to help ensure proper end-of-year filing and decrease fines and penalties.

2021 Filing Tips

Tip Number One

Form 1099-NEC, used to report non-employee compensation, is new for tax year 2020.  The form ONLY allows the reporting of non-employee compensation.  If you have paid someone non-employee compensation as well as other types of compensation, you will have to send them both a 1099-NEC and a 1099-MISC return.

Tip Number Two

The IRS has lowered the number of returns you are able to submit on paper.  While it has previously been 250, it is now 100 for each type of return you file.  This does not apply to the Annual 945 or the Annual 1042 return.  These cannot presently be filed electronically.

Tip Number Three

The good news is that if you have to file corrected returns, you can send up to 100 to the IRS on paper, even if you originally filed them electronically.  This is often easier than creating electronic files for corrections.   Returns submitted on paper must be accompanied by the appropriate transmittal form.

And Don’t Forget These Filing Guidelines

*If the standard due date for a return falls on a Federally recognized holiday, the due date moves to the next business day.  

W2-G

To Recipient/Payee

  • *Monday, February 1, 2021 (if not provided at the time of the win)

To IRS (Paper)

  • *Monday, March 1, 2021

To IRS (Electronic)

  • Wednesday, March 31, 2021
1099-NEC

To Recipient/Payee

  • *Monday, February 1, 2021

To IRS (Paper)

  • *Monday, February 1, 2021

To IRS (Electronic)

  • *Monday, February 1, 2021
1099-MISC

To Recipient/Payee

  • *Monday, February 1, 2021

To IRS (Paper)

  • *Monday, March 1, 2021

To IRS (Electronic)

Wednesday, March 31, 2021

1042-S

To Recipient/Payee

  • *Monday, February 1, 2021

To IRS (Paper)

  • Monday, March 15, 2021

To IRS (Electronic)

  • Monday, March 15, 2021
ANNUAL 945

To IRS (Paper)

  • Monday, February 1, 2021
ANNUAL 1042

To IRS (Paper)

Monday, March 15, 2021

Finley & Cook, CPA’s
info@finley-cook.com
www.finley-cook.com

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