As we close the books on another tax year, it is once again time to start thinking about 1099s. Here is a handy checklist to help you see the process through to completion:
1. Prep your MIMICS system for Year-End. This includes finishing all data processing and payments.
2. Convert your MIMICS system data into 1099-ready data.
3. Import your 1099 data to the MIMICS IRS Tax Reporting module.
4. Review your 1099 data to confirm totals.
5. Generate your 1099 tax forms and electronic files and send to clients.
The MIMICS 1099 software update and training session are now available. Please contact us directly through the support portal to get set up with yours.