BILL's all-in-one financial operations platform introduces 1099 Form Filing to simplify one of the most important and cumbersome aspects of running a business – tax compliance
BILL (NYSE:BILL), a leading financial operations platform for small and midsize businesses (SMBs), today announced a new 1099 Filing offering that allows SMBs to simplify their 1099 taxes within the BILL Financial Operations Platform. With these new capabilities as part of BILL's flagship accounts payable (AP) solution, SMBs and the accounting professionals who serve them can now quickly and easily prepare and file their 1099 forms in the same place they pay and manage their vendors year-around.
"Without the right technology, the process of filing year-end forms for vendors and contractors can be complicated and time consuming for SMBs, plus it can be challenging to stay compliant. That is why BILL is delivering an intuitive 1099 filing solution – empowering SMBs and their accountants to quickly collect, create and file 1099s in the same place where they're already tracking vendor payments throughout the year," said Ariege Misherghi, SVP & GM of AP, AR and Accountant Channel at BILL. "With BILL, businesses can now handle this critical component of tax season with ease and get back to what they do best – serving their customers."
Delivering a Simplified 1099 Tax Experience for SMBs
The 1099 filing offering from BILL is an all-in-one solution that enables businesses to manage their AP needs and 1099-NEC and 1099-MISC forms together from a single platform to save time and resources. Key benefits and capabilities include:
- Collect W-9 documents from vendors: Request and collect W-9s directly from within BILL, removing the need to navigate between disparate software solutions.
- Mark vendors as 1099-eligible: Pick and choose which vendors are 1099 eligible with the "1099 Filing" tab in the left hand navigation.
- Categorize expenses: View all payments made to a vendor and categorize payments in bulk, all in one place.
- Generate 1099 documents: Once payments are categorized, BILL will generate all 1099 forms.
- Deliver 1099s to vendors: BILL will deliver 1099s either electronically or physically via USPS to all vendors for review.
- eFile with the IRS: Once 1099 documents have been generated and reviewed by vendors, file all 1099s electronically to the IRS with the click of a button. Note: This covers state filing only for the states participating in the Combined Federal/State Filing (CF/SF) program, listed at IRS.gov.
Empowering Accountants to Offer Added Value for SMB Clients
According to the 2022 CPA.com & AICPA PCPS Client Advisory Services (CAS) Benchmark Survey, CAS practitioners indicated that 1099 creation and filing was the most in-demand CAS service to help their SMB clients, demonstrating the need for 1099-specific tax support for SMBs. BILL's 8,500 accountant partners can help meet this demand by leveraging BILL's 1099 Filing offering to provide SMB clients with a seamless 1099 tax experience through CAS. Accountants can also simplify and streamline the process of managing and filing taxes for their clients in one place for increased efficiency and productivity this coming tax season.
SMBs and Accountants Simplify 1099 Filing with BILL
Michelle Ranck, Business Manager at Arrowhead Pine Rose Cabins
"Tax season is always a chaotic time of year for our business as we typically spend so much time and energy navigating the process, which can be quite complex. We are looking forward to simplifying our taxes this year with BILL, which will allow us to easily create, generate, and file all 1099s in one place so we can get taxes out of the way and get back to driving our business."
Michael Smith, Senior Vice President, Accounting Systems and Implementations at LBMC W Squared
"Typically, we have to navigate across multiple software solutions to manage 1099 taxes for our SMB clients, which can be cumbersome and time consuming. BILL's solution will allow us to streamline taxes for our clients and free up time to focus on adding more value through strategic client advisory services."
Availability
W-9 collection capabilities are available now. Additional features for 1099s will be available on January 2, 2025. Learn more about BILL's 1099 Filing features and capabilities here.
Join BILL for a webinar on December 10th to see a demo of the 1099 Filing solution in action. Register here.
About BILL
BILL (NYSE:BILL) is a leading financial operations platform for small and midsize businesses (SMBs). As a champion of SMBs, we are automating the future of finance so businesses can thrive. Our integrated platform helps businesses to more efficiently control their payables, receivables and spend and expense management. Hundreds of thousands of businesses rely on BILL's proprietary member network of millions to pay or get paid faster. Headquartered in San Jose, California, BILL is a trusted partner of leading U.S. financial institutions, accounting firms, and accounting software providers. For more information, visit bill.com.
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