Iowa Updates 1099 Electronic Specifications

March 1, 2019 Tom Hospod

Iowa has published an update to its tax year 2018 electronic filing specifications for 1099s. The Payee “B” record follows the IRS 1220 specifications; however, Iowa requires certain modifications within the payee record one reporting to the state. One such modification that was added in the republication of the specifications is as follows: Payee’s Taxpayer Identification Number (TIN) (positions 12 – 20) Enter the nine-digit taxpayer identification number of the payee (SSN, ITIN, ATIN, or EIN). Do not enter hyphens or alpha characters. If an identification number has been applied for but not received, enter zeros rather than blanks; this is a departure from the IRS requirement.

About the Author

Tom Hospod

Tom Hospod is a member of the Tax Research Team for the Direct Tax division at Sovos Compliance, where his main areas of focus are Tax Withholding and Automatic Exchange of Information (AEOI). Prior to Sovos, Tom worked as a legislative aide in the Massachusetts House of Representatives. He also has experience in securities law—focusing on broker-dealer disputes and representing clients in FINRA arbitration. Tom is a member of the Massachusetts Bar, earned his B.A. from Boston College and his J.D. from the University of Miami.

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