BILL Unveils 1099 Form Filing Solution for SMBs
11 December 2024 - 12:55AM
Business Wire
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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Press Contact: John Welton john.welton@hq.bill.com
IR Contact: Karen Sansot ksansot@hq.bill.com
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