Use this activity to view or print a report that can be used to reconcile the amounts printed on IRS Forms 1099-MISC. You can also use this report as the basis for preparing IRS Form 1096, Annual Summary and Transmittal of U.S. Information Returns, which is used to transmit the Forms 1099 to the IRS. This report lists the total annual payments above the IRS-specified threshold amount for each supplier, or all payments, regardless of the amount, for suppliers for which federal and/or state income tax is being withheld.
This activity requires that a company and a supplier exist. The supplier must be designated as subject to Form 1099 income tax reporting and/or withholding.
As a result of this entry, the report is either printed or viewed on the screen.
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