 Internal Revenue Service IRS Tax News. IRS opens free portal to file information returns. New electronic option can reduce millions of paper forms 1099 estimated to be filed by businesses in 2023. Wow, that sounds great and easy. But I know how this works. Once the government makes giving them personal information easy, they inevitably want more personal information. I mean just look at how much more information they want on the form 1040 as they did like 10 years ago. I mean honestly, I used to be able to call in my taxes over the phone and that's before they had a cell phone. Like the form 1099 will soon look like an encyclopedia drilling down on minute personal details. What's that Phil? More information is good unlike those evil politicians in Florida who are banning books. Wait a second here Phil. I'm sorry but I think the full story is that they're banning books to kindergarteners. I mean it seems like that last bit is an important part of the story Phil. I mean honestly they ban stuffed animals to kindergartners like even if the eye is made out of something hard or something. Because when we're kids we're so dumb we may try to tear out the eyeball of the stuffed animal and shove it in our ear. Hoping it'll allow us to see out of like the side of our head or something you know? I mean and honestly like the IRS requiring personal information does not seem like the same thing as banning books because like the author of the books meant to sell the books to the public. Whereas I wasn't planning on making my pet hamster's sexual preference known to the IRS which given the way all government officials seem to spew confidential documents everywhere they go means my pet hamster's sexual preference will be made public if they require me to put it on like a form 1099. But my hamster's still really young and considering the average kid these days transitions through an average of like four genders before hitting puberty which is the rationale for the use of puberty blockers because if we could just delay things a bit kids could possibly double the number of genders they go through before puberty. But that's not the point. The point is I don't feel I should have to include this sensitive hamster info on IRS documentation just because politicians need more sensitive personal data that they can use as confetti at their next like global warming party like in Davos or wherever or something. I'm just saying that's what that's what's going to happen and I'm telling you. Anyways whatever. Let's get on with the news. IR 2023-14 January 25th 2023 Washington the internal revenue service announced today that businesses can now file form 1099 series information returns using a new online portal available free from the IRS. There is no one as the information that returns intake system IRS or Iris which sounds like a part of the eyeball I believe which has to make you think of Sauron they've apparently they've installed Sauron into the tax system which is a little scary hopefully Gandalf will come save us or something at some point but any case we've got that's what it is. This free electronic filing service is secure accurate and requires no special software though available to any business of any size iris may especially helpful to any small business that recent that currently sends their 1099 forms on paper to the IRS quote the IRS is excited to offer any business especially small companies a great new way to electronically file their 1099s for free end quote said IRS acting commissioner Doug O'Donald end quote so they're trying to automate everything of course which does you know make sense on their side so everything would kind of be automated they're still getting those paper returns on the 1099s and they've you know they've got this policy where they they don't go into the office anymore because of social distancing or whatever even though they hired a million new people so they want to automate the system and everything which makes sense but it should be an easier system so it does kind of make sense to do any case quote this simplifies filing for those issuing 1099s and helps recipients receive information timely the launch of iris can help reduce the millions of paper forms 1099 and project will filed in 2023 and demonstrates our commitment to finding useful and innovative ways of reducing paperwork on the business community and others issuing 1099s this is part of the large effort underway to make improvements and transform operations at the IRS end quote does seem like a logical step you would think but any case filers can use the platform to create upload edit and view information and download completed copies of 1099 series forms for distribution and verification with iris businesses can e-file both small and large volumes of 1099 series forms by either keying in the information or uploading a file with the use of a downloadable template currently iris accepts form 1099 only for tax year 2022 and later the iris encourages any business especially those that now file on paper to switch to e-filing through the platform and share in its benefits so basically they're saying please do this electronically because we're trying to have all these new people that we just hired be able to kick back and watch the system and the money roll in without having to go through the papers and stuff which I understand so I but I just feel like they can automate it and then possibly we could maybe reduce some of the cost of all the points usually of the automation but any case these benefits include e-file security standards keep information safe and protected the portal is an accurate filing method that automatically details filing errors and provides alerts for missing information filers can submit automatic extensions and make corrections to information returns filed through the platform and so that's nice so you can adjust the 1099s if you did something wrong because issuing the 1099 that is incorrect can cause people a lot of problems and whatnot that you have to correct it or the iris thinks that you made money that you didn't make or something so the irs encourages recipients of the return in an easily early the irs acknowledges receipt of the return in as early as 48 hours that is the platform keeps issue or information from year to year and prior years filed through this platform providing convenience in to 1099 filers e filing elements strips to the post office and can reduce office expenses for paper postage and storage space so that's true enrollment for the iris filing platform so you're going to enroll with iris it's now available there's a link to that here filers should begin the enrollment process immediately the filing information returns electronically fire system will remain available for bulk filing form 1099 series and other information returns through at least the 2023 filing system for more information about iris visit e file form 1099 with iris there's a link to that here additional resources you got publication 5717 iris taxpayer portal user guide you got the general instructions for certain information returns you got form 1096 1097 1098 1099 3921 3922 5498 and the w2g form provides general information instructions and requirements for 1099 series forms and others select information returns more information at the fact sheet 2023-03 iris reminder important backup and worth withholding deadlines so you've got those deadlines those zombie lines their lines but they're dead so they still rise up and try to eat your brains anyways there's links to all that stuff here there'll be a link to this in the description