Visit the video tutorial, How Employers E-file Annual 1099 and W-2 Reports. Most transmitters can submit their annual reports through MassTaxConnect, DOR's web-based application for filing and paying taxes to Massachusetts. Submitting with MassTaxConnect or the Bulk File Portal Report payment amounts in positions 67-78 of the payee "B" record. The percentage ( %) should be rounded to the nearest whole number. In your annual report, use positions 44-46 of the "A" record to report the % of mutual fund portfolio income distribution attributable to bonds issued by: Report the income in the same manner as if it were taxable for federal purposes. Use the Form 1099-INT format to record earnings from: Report payment amounts in positions 67-78 of the payee "B" record.A Form 1099-INT must be submitted for each bond on which interest is paid. Use the Form 1099-INT format (found in IRS Publication 1220) to report earnings on state or local bonds. The Massachusetts filing requirement for Form 1099-K remains at gross payments of $600 or more, regardless of the number of transactions. Effective for the 2022 calendar year, the IRS filing requirement for Form 1099-K will be changed from gross payments exceeding $20,000 and more than 200 transactions to gross payments exceeding $600 regardless of the number of transactions.Note: DOR and the IRS have different filing requirements for Form 1099-K. Modifications to the Form 1099 specifications in IRS Publication 1220 are required for Massachusetts municipal bond interest as explained below. Generally, Form 1099 Reports for Massachusetts follow the federal guidelines in IRS Publication 1220. Visit the IRS for a complete list of 1099 forms and instructions.Īnnual reports must be filed directly with DOR even if the transmitter participates in the IRS Combined Federal/State Filing Program (CF/SF). For filing instructions, see the “ Submitting your annual report” section on this page. Note : the forms listed above are federal IRS forms, and are not administered by the MA DOR. You must file an annual report of interest, dividends, and other income taxable under Chapter 62 of the Massachusetts General Laws if you issued any of the following:
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