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QI alert 2020-01

QI alert 2020-01



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Reminders for Tax Year 2019 Form Series 1099 Reporting

Regulatory Deadlines

We would like to remind payers of approaching regulatory deadlines with respect to Form series 1099 reporting for tax year 2019.

Generally, the deadlines for filing forms with the Internal Revenue Service (“IRS”) are February 28, if paper filed, or March 31, if electronically filed, while the deadline for furnishing recipient copies is January 31.

This table details the upcoming deadlines.


Form series 1099 extensions are available via the Form 8809 (found here). The extension request must be submitted to the IRS on or before the applicable reporting deadline.

Changes for Tax Year 2019

While most Form series 1099 remain unchanged from the prior 2018 tax year, there are a few updates applicable for tax year 2019 of which payers should be mindful. Specifically, changes and additions to Form 1099-B for this year include:

  • Box 3 is now a checkbox for reporting a disposition of a Qualified Opportunity Fund (QOF) investment or collectibles proceeds.
  • Information that was previously reported in Box 3 is now contained in Box 12 of the form.

For Your Reference

The text of 2019 General Instructions for Certain Information Returns can be read in its entirety here.

The text of 2019 Instructions for Form 1099-B can be read in its entirety here.

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