IJBTT

Electronic Filing of 1099 Forms Using Oracle Fusion Payables
	© 2024 by IJCTT Journal
	Volume-72 Issue-7
	Year of Publication : 2024
	Authors : Dhavalkumar Patel
	DOI :  10.14445/22312803/IJCTT-V72I7P120

How to Cite?

Dhavalkumar Patel, "Electronic Filing of 1099 Forms Using Oracle Fusion Payables," International Journal of Computer Trends and Technology, vol. 72, no. 7, pp.156-159, 2024. Crossref, https://doi.org/10.14445/22312803/IJCTT-V72I7P120

Abstract
Form 1099 is used to report various types of income such as freelance earnings, interest, dividends, rent, royalties and similar other non-employee compensations to the IRS. While Form 1099 can be filed in physical form, the adoption of electronic filing of IRS Form 1099 has significantly transformed the landscape of tax reporting for businesses and individuals alike. As organizations expand in size and require processing a large volume of data for 1099 filings, there is an increasing trend towards electronic filing. This method offers significant benefits such as improved accuracy, timely submissions, prevention of data loss, which may occur in paper filing during in-transit, enhanced tracking capabilities, efficient management of post-filing corrections, and more. Consequently, there is a demand for a software application or tool that facilitates electronic filing of 1099 forms seamlessly integrated with the enterprise's payables application. There are various software applications available in the market offering 1099 reporting and filing functionality. Oracle fusion payables clouds is one of the leading software applications offering this functionality. Oracle fusion payables are a prominent choice of many organizations ranging from medium scale organizations to large scale enterprises. This article examines the process of electronic filing of 1099 forms using the Oracle fusion payables cloud application. Furthermore, the article delves into the key offerings related to 1099 reporting functionality in the fusion payables cloud, best practices and key challenges.

Keywords
1099 electronic filing, 1099 forms, 1099-MISC, 1099-NEC, IRS 1099 forms, Oracle fusion payables.

Reference

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