This post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2024 Wave 2 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2024 Wave 2.
The 1st of the new functionality in the Country and regional section is start using integration with IRS for 1099 submissions.
This feature introduces the IRS 1099 tax forms in the latest release for taxpayers and businesses. This feature integrates with the IRS and doesn’t print 1099 Tax Forms on preprinted original IRS 1099 Tax Forms. Instead, Business Central submits 1099 Tax Forms through integration with the IRS and sends Copy B to vendors as Copy Substitutions printed on plain paper. This feature can guide you on setting up and reporting to the IRS.
Enabled for: Users, automatically
Public Preview: Oct 2024
General Availability: Nov 2024
Feature Details
User can report IRS 1099 forms directly to the IRS using API integration with IRS using IRIS platform. This integration functionality will be based on new 1099 feature that was delivered in 2024 release wave 1.
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