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I337702
Employee
Employee
The objective of this blog post is to introduce what updates were done on 1099-MISC and 1099-NEC Forms (Copy B) in order to be compliant with the latest regulations published by the IRS relevant for the year 2022. This enhancements you can find in SAP Business ByDesign 22.11 release.

1099-MISC Form

  • Box number 13 has been assigned to the Foreign Account Tax Compliance Act (FATCA) filing requirement checkbox. Subsequently, old box numbers 13 through 17 have been renumbered to new box numbers 14 through 18, respectively

  • The wording in the header and in the footer of the form was slightly updated


You can find the form in the Tax Management work center under Withholding Tax Returns. Just click on Tax Return ID created for 1099-MISC for the year 2022; select View All and click on Preview button.


Form 1099-MISC_2022


1099-NEC Form

  • The wording in the header and in the footer of the form was updated


You can find the form in the Tax Management work center under Withholding Tax Returns. Just click on Tax Return ID created for 1099-NEC for the year 2022; select View All and click on Preview button.


1099-NEC Form_2022


 

Using of these updated forms for the reporting of 1099-MISC and 1099 NEC Withholding Tax for the Tax Year 2022 to tax authorities assure that you are compliant with the latest regulations published by the IRS.
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