1099 Updates: June 1-12, 2017

This blog was last updated on June 26, 2021

Regulatory and legislative updates to 1099 form requirements that took place in recent weeks.

Individual states and the IRS introduce new 1099 form requirements and changes to existing legislation on a frequent basis. The Sovos Regulatory Analysis team continually monitors and documents each of these updates in our Regulatory Feed. 

Here are several recently updated requirements:

Pennsylvania Releases Updated Enterprise Registration Form and Instructions

Pennsylvania recently released an updated Form PA-100, the Enterprise Registration Form and Instructions. This form is used by enterprise businesses to register with the state for certain taxes and services administered by the Pennsylvania Department of Revenue and Department of Labor & Industry. For the purposes of this form, “enterprise” does not indicate size of business: it is merely a term of industry meant to categorize businesses that engage in certain activities such as paying wages, offering services, or collects taxes.

To learn more, check out the full post in the Sovos Regulatory Feed.

Pennsylvania Updates Specifications for Electronic File Imports

Pennsylvania made another notable change last month, as it updated the file imports for their W-2 Employee Wage Records and 1099-MISC Distribution. These file imports are used by employers to report W-2 and 1099-MISC data to the Pennsylvania Department of Revenue. Head over to the Sovos Regulatory Feed for the complete details. 

New Jersey Releases Updated Form NJ-W-4P

The New Jersey Division of Taxation has released an updated version of its Form NJ-W-4P, Certificate of Voluntary Withholding of New Jersey Gross Income Tax from Pension and Annuity Payments. Pensioners and annuitants may use this form to instruct the payer withholding New Jersey Income Tax rather than making estimated tax payments.

The form itself is largely the same as the prior version, except it now includes an option to request that the payer cease the withholding of New Jersey Income Tax from payments. The new form also contains instructions in greater detail, publication references, and a worksheet to assist payees in determining the amount of tax to be withheld.

Montana Moves Up W-2 and 1099 Due Date to January 31

Montana recently announced in its Employers’ Withholding Tax Guide that it has moved up its reporting due date for forms with Montana state withholding. Forms MW-3, W-2, and 1099s with Montana state withholding are now due by January 31. Previously, these forms were due on February 28.

IRS Releases Updated Reasonable Cause Regulations & Requirements for Missing and Incorrect Name/TINS

The IRS has released an updated Publication 1586, Reasonable Cause Regulations & Requirements for Missing and Incorrect Name/TINs. There are a number of changes from the previous revision. Head over to the Sovos Regulatory Feed post for the full details.