Purpose
The Tax1099 integration automates year-end tax reporting by connecting TRUE with Tax1099.com, enabling seamless 1099 form generation and submission for vendors and subcontractors. TRUE will communicate with Tax1099, providing all of the payments made to a Vendor/Subcontractor. Use Tax1099 to fill out the 1099 tax forms for your behalf.
Configuration
Initial Setup
- Tax1099: Sign up for a Tax1099 account at Tax1099.com
- Tax1099: Navigate to the Tax1099 API Hub
- Tax1099: Copy the production App Key
- TRUE: Navigate to Company Preferences → Integrations → Tax1099
- TRUE: Enter the App Key in the API Key field
Vendor / Subcontractor Setup
- Select the “workflow” hamburger icon on the top left
- Click “Directory”
- Navigate to Vendor/Subcontractor modules
- Select the correct record
- Select the “Details” mode
- Enable 1099 checkbox for applicable entities.
- Set entity “1099 Entity Type” as either Business or Individual
Required Information (Entity Type - Business)
Details Mode
Open the Vendor or Subcontractor record and select the “Details” mode to populate these fields:
- Federal Tax ID in either XX-XXXXXXX or XXX-XX-XXXX format
Edit Card
Open the Vendor or Subcontractor record and select the “Options” button → “Edit” to populate these fields:
- Phone Number
- Email Address
- Billing Address
Required Information (Entity Type - Individual)
Details Mode
Open the Vendor or Subcontractor record and select the “Details” mode to populate these fields:
- Federal Tax ID in either XX-XXXXXXX or XXX-XX-XXXX format
Edit Card
Open the Vendor or Subcontractor record and select the “Options” button → “Edit” to populate these fields:
- Phone Number
- Email Address
- Billing Address
Contact
Open the Vendor or Subcontractor record and select the “Contacts” mode to populate these fields:
- Person/Company
- Phone Number
- Email Address
- Address
Syncing
- Navigate to the Vendors or Subcontractors modules
- Select the Gear Icon → Tax1099 1099-NEC button
- Enter a tax year for the 1099-NEC form
- TRUE will find all vendors or subcontractors with at least one Bill in the given tax year and sync one payer record per vendor or subcontractor with the non employee compensation amount set to the total of all bills for the vendor / subcontractor for the given year.