1099-S Filing Deadline Approaching
The deadline to file 1099-S forms is fast approaching. Real estate attorneys and settlement agents are required by the IRS to submit Form 1099-S to report the sale or exchange of real estate.
For a closing that happened in 2015, the forms are due February 29, 2016 if filed manually and March 31, 2016 if filed electronically. Many closing agents will hold on to them and file all of the 1099-S forms at one time.
As a real estate professional, you face fines and penalties for not filing the 1099-S form on time. But with EasySoft’s real estate closing solutions you can file 1099-S forms electronically on the day of the closing as one of your final checklist items.
All you need to do to start submitting 1099-S forms is enroll in the service. Once you are enrolled, you can submit as many forms as you need to with just one click from our real estate closing software. You’ll instantly receive a confirmation number and can rest easy knowing your forms have been electronically submitted, safely and securely.
Our real estate closing solutions are designed to eliminate the chance of errors and incomplete forms. The programs automatically populate the form based on either CDF or HUD form data and validate that data prior to submission. You will never have to worry about locating missing information months after the closing.
Electronic filing means you can complete all of your responsibilities for the closing right away. There is no reason to risk missing a deadline or risk having a transaction slip through the cracks because you waited and mailed all of your forms at once. You will also save significant staff time by not having to fill out, double-check, stamp, and mail all of your forms at one time.