IRS Form 1096 – Downloadable 1096 Form – The complete guide for a company owner to the Internal Revenue Service Form 1096 includes who needs to file and step-by-step instructions.
Document Form 1096 is an IRS form that is sent as a summary with other information returns—such as 1097, 1098, 1099, 3921, 3922, 5498, and W-2G Forms—when you file these returns by mail with the Internal Revenue Service. The IRS Form 1096 must be completed separately for each of the many kinds of returns you’re filing. For example, a separate Form 1096 to accompany your 1099 forms and a separate Form 1096 to accompany your 3921 forms.
What is IRS Form 1096?
IRS Form 1096 is a bit different from some of the other tax forms you’ll be required to complete for your company. IRS Form 1096, also known as the Annual Summary and Transmittal of U.S. Information Returns, is a summary document that, as its formal name indicates, summarises the information included in the returns. It is filed with other IRS information forms, such as forms 1097, 1098, 1099, 3921, 3922, 5498, and W-2G, and is referred to as an “accompanying document.”
IRS Form 1096 is only required to be submitted with these information returns if they are sent to the IRS by mail. Form 1096 is similar to a fax cover sheet in that it is submitted with your completed return to tell the IRS, at a glance, what you are sending so that they may quickly and simply route your return to the proper next stage in the process.
Similar to how you cannot simply print IRS Form 1099 or W-2 and fill it out, you cannot simply print IRS Form 1096 and submit it with your respective information returns. Because the Internal Revenue Service processes paper forms by machine, you must obtain the right version of Form 1096, either directly from the IRS or through a third-party reseller, such as an office supply shop, before you can file your return. QuickBooks, for example, may provide you with the option to produce and print official copies of IRS Form 1096 if you use an accounting or payroll software package such as QuickBooks. Taxpayers who fail to submit the official form of Form 1096 and instead use the printed version from the Internal Revenue Service website may be subject to a penalty.
Each of the several kinds of information returns stated above will need a separate IRS Form 1096 to be filed, even if you simply fill out a single form. Consider the following scenario: If you’re sending out ten 1099-MISC forms and one 1098 form, you’ll need to complete two 1096 tax forms: one to send with the 1099-MISC forms and another to send with the 1098 form.
Who is Required to Submit IRS Form 1096?
Only if you are mailing your yearly information returns to the Internal Revenue Service will you be required to complete IRS Form 1096. The IRS Form 1096 is not required if you submit this information online, either via the IRS FIRE System or through a tax preparation software program.
How to Complete and Submit IRS Form 1096
IRS Form 1096 is only required if you are mailing one of the above-mentioned information returns to the Internal Revenue Service.
Each of the multiple versions of the above forms that you’re submitting before February 28 will need a separate Form 1096 to be addressed to the address shown on the form. However, if you’re filing the 1099-MISC form to report “NEC,” or non-employee compensation, which means you’re reporting payments your company has made to independent contractors, you’ll need to submit both the 1099-MISC form and the accompanying Form 1096 by January 31, otherwise, you’ll have to wait until the following year. By contrast, Form 5498 must be filed by June 1 of each year.
If you want to appropriately file IRS Form 1096, you’ll need to fill out the form for each of your information returns (note that you must use the official version of Form 1096 and not the PDF version downloaded from the IRS website) and then group the forms together by form number. If you’re submitting Form 1099-MISC, the Internal Revenue Service suggests that you send it in a separate package. Also note that even though you must submit Form 1096 to the Internal Revenue Service, you are not required to include this form when you supply your contractor with a copy of their 1099 form if you are filing 1099-MISC forms for payments you have made to contractors.
If your firm is based in a different state or country, the address to which you send your completed information returns and 1096 tax forms may differ, so you’ll want to study the IRS Form 1096 PDF to make sure that you’re mailing to the right IRS address before you get started. The IRS gives additional directions with respect to filing paper returns in its general 1099 instructions document, including particular information regarding staples, print type, and so on. Please examine these rules before submitting your paper returns to verify that they are complete and correct.
In this vein, the 1099 instructions document also includes an exemption for a small number of low-volume returns that may be submitted using the printed-PDF version of Form 1096 downloaded from the IRS website. These are the results:
In order to file any of these IRS business forms, you may simply print the form and Form 1096 from the IRS website, fill them out, and send them to the appropriate IRS address depending on the location of your company’s headquarters.