1099 Default Settings are incorrect in Sage

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This is the new 1099-MISC - you will notice that the choices are incorrect in Sage.   For example it says 1099-MISC, Box 7 is to report misc income for non-employee compensation..  on the actual form box 7 is for Payer made direct sales of $5000 or more...     Are there plans to correct this and all the other boxes to match the actual 1099-MISC - As well as to add the new form for 1099-NEC - which is an accounts payable form - not necessarily a payroll form?   

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    Here's my response to a similar thread.  We will have a solution for both Payroll and non payroll customers.   

    Sage will be providing the ability to produce the 1099-NEC for both payroll and non-payroll customers.  We are working on the announcement with details on how this will work for both.  Details will also be available on the Year End support pages soon.  We do recommend that payroll users upgrade to the latest release (2021.1.1) to be ready for Tax updates being released this month and in January.  For non-payroll customers, the IRS requires the scannable form for Copy A, which can be ordered directly from the IRS website or from our Checks and Forms service.  

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  • 0
    SUGGESTED

    Here's my response to a similar thread.  We will have a solution for both Payroll and non payroll customers.   

    Sage will be providing the ability to produce the 1099-NEC for both payroll and non-payroll customers.  We are working on the announcement with details on how this will work for both.  Details will also be available on the Year End support pages soon.  We do recommend that payroll users upgrade to the latest release (2021.1.1) to be ready for Tax updates being released this month and in January.  For non-payroll customers, the IRS requires the scannable form for Copy A, which can be ordered directly from the IRS website or from our Checks and Forms service.  

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