Checklist for Processing 1099’s and W2’s

End of Year Payroll Tax Forms: W2, 1099

Some of the most important payroll tax forms—W2 and 1099 forms—must be mailed out to your employees and contractors shortly after the calendar year ends. Any contractors who were paid more than $600 will need a 1099 form. Your employees will need a detailed breakdown of the amount they were paid during the calendar year and will need a W2 form. Below we have created a useful checklist to help you get organized and process these forms!

W2 Checklist

  • Confirm amount of W2 to send, including gross compensation for the calendar year and tax amount
  • Confirm legal name, address, and Tax ID for each employee
  • Decide whether you’ll be filing via paper or electronically
  • Confirm the total amount of all the W2 forms on your W3 Form
  • Process and file Copy A of W2s and the W3 to SSA by January 31st
  • Send Copy B,2 & C W2s to employees by January 31st
  • Save Copy D internally for records 

1099 Checklist

  • Confirm amounts paid to vendors within calendar year
  • If vendors received $600 or more, they will need a 1099
  • Confirm number of 1099s to mail
  • Compile W9s vendor information (Name, Address, Tax ID)
  • Decide whether you’ll be filing via paper or electronically
  • Confirm the total amount of all 1099 forms on your 1096 form
  • Process and file Copy A 1099s/1096 with IRS by January 31st
  • Send Copy B 1099s to vendors by January 31st
  • Save Copy C internally for records 

For in-depth analysis on what type of tax form to fill out, take this IRS quiz.

Next Steps:

Not sure if your dancers should be considered employees or independent contractors? Consider the differences.

Are you at the beginning stages of organizing your income and expenses? Learn how to create your own bookkeeping system.

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