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1099-OID

Interest Income and Original Issue Discount

About Form 1099-OID

File Form 1099-INT, Interest Income, for each person:

  1. To whom you paid amounts reportable in boxes 1, 3, or 8 of at least $10 (or at least $600 of interest paid in the course of your trade or business described in the instructions for Box 1. Interest Income, later);
  2. For whom you withheld and paid any foreign tax on interest; or
  3. From whom you withheld (and did not refund) any federal income tax under the backup withholding rules regardless of the amount of the payment.
IRS Instructions for Form 1099-OID

1099-OID Forms

We've made it easy to file your 1099-OID forms. Simply create a Yearli Performance or Premier account, enter or import your data, review your data and checkout. It's that easy. Yearli will file your forms to the IRS, applicable state agency and send copies to your recipients.

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Who Files?

For any person for whom you withheld and paid any foreign tax on OID (Original Issue Discount) from whom you withheld (and did not refund) any federal income tax.

What to Report?

Interest payments made in the course of your trade or business including Fed, state, and local government agencies & activities deemed nonprofit.

Why File?

In many instances IRS penalties for not filing correct information returns (Code Section 6721) or correct payee statements (Code Section 6722) may apply.

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Patrick G. | October 22, 2024
Very easy and cost effective method of filing a Form 941
Ken K. | October 18, 2024
Easy and quick to use.
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