Filing Information Returns Electronically with IRIS

The IRS has introduced a new electronic portal, the Information Returns Intake System (IRIS), designed to make filing information returns like 1099 and 1098s, easier and more efficient. This system is accessible to businesses of all sizes and especially beneficial for small businesses that have traditionally filed paper forms.

Key Features of IRIS:

– Free to Use: There is no cost to access IRIS, making it an economical choice for filing electronic returns.

– No Special Software Required: You can access IRIS directly through a web portal without the need for additional software, which simplifies the process for users.

– Secure and Accurate: IRIS offers a secure and reliable way to file your returns, ensuring your business’s data is handled safely.

Types of Forms You Can File:

– Form 1099 Series: Including, but not limited to, 1099-MISC, 1099-NEC, and 1099-DIV.

– Forms 1097-BTC, 1098, 1098-C, and others.

How to Get Started:

1. Apply for a Transmitter Control Code (TCC): Before you can use IRIS, your business must obtain a TCC, which serves as your identification code for electronic filing.

2. Access the Taxpayer Portal: Once you have your TCC, you can log into the IRIS Taxpayer Portal where you can file up to 100 returns at a time either manually or by uploading a .csv file, download payee copies to distribute and more.

For businesses that process large volumes of returns, IRIS also offers an Application to Application (A2A) interface, which allows the transmission of thousands of returns simultaneously via third-party software or services.

This move by the IRS to digitize the process not only streamlines filing but also reduces the environmental impact associated with paper forms. It’s a step forward for businesses looking to simplify compliance and reduce overhead costs associated with tax filings.

For more detailed information, you can visit the IRS IRIS information page at https://www.irs.gov/filing/e-file-information-returns-with-iris