The HorizonWebRef.com systems do not directly handle or process 1099-MISC tax forms, but we do provide tools and integrations to help make an organization's tax reporting requirements easier. If you're using our integrated Payment Center for direct deposit payments, users may automatically receive a 1099-K tax form, however, this not the same as a 1099-MISC tax form and does not satisfy your organization's tax reporting requirements. Consult with your professional accounting and/or tax advisor to identify your organization's tax reporting requirements.
Generating Tax DataTax data can be generated using the Export 1099 Data option provided under Administrative Forms under the Management Forms heading. This option is only available for users with administrator permissions on their subscription.
Data BasisThe 1099-MISC tax data can be based on one of two possible methods.
- Based on Games & Assignments
In this method, any games & assignments that fall between the periods of January 1 through December 31 of the prior tax year will be exported and included in the data report. The game date is used as the basis to determine whether or not to include the amount in the report.
- Based on Payment Center Payments
In this method, any payments issued via the Horizon Payment Center between the periods of January 1 through December 31 of the prior tax year will be exported and included in the data report. The transaction date is used as the basis to determine whether or not to include the payment in the report.
Output GeneratedThe 1099-MISC data report that is generated is exported in a CSV spreadsheet format which is not yet ready to submit to the IRS or state tax departments. You'll need to take this data to an external source to actually generate and process 1099-MISC and 1096 tax forms for submitting. When choosing your output, you may choose from 3 options:
- Tax1099.com Output
Our system will output a CSV spreadsheet that is ready and pre-formatted to work with this external provider. You can download and export this version and easily import this format into the Tax1099.com system. Pricing for their services vary. You should refer to their website for pricing information.
- Track1099.com Output
Our system will output a CSV spreadsheet that is ready and pre-formatted to work with this external provider. You can download and export this version and easily import this format into the Track1099.com system. Pricing for their services vary. You should refer to their website for pricing information.
- Generic CSV Output
This method is a generic output method. You can output this format if you plan to process 1099-MISC forms yourself or if you plan to take the data to your own external accounting service that is not one of the providers listed above.
- 1099-MISC tax forms are going to require your officials' social security number for processing. You can enable Feature #53 in your System Settings to securely collect and store this information so it can be added to your 1099 Data Reports at tax time.
- Officials that are being paid via the Horizon Payment Center may also receive a 1099-K tax form directly from Dwolla, Inc. [our financial provider] for the same earnings which is in addition to any 1099-MISC tax form you issue to them. A 1099-K tax form is not the same as a 1099-MISC tax form. You may see this support article for details on 1099-K tax forms.
- Check your values. The data obtained via our tax export options is only as good as the data that you've submitted to the system. You are responsible for verifying the accuracy of this data and the accuracy of all dollar values. Horizon Dyanmic Web Designs, LLC. does not warranty or guarantee the accuracy of any of your data and will not be responsible for inaccurate dollar values for any reason.