Hello, taxpayers! Do you know the significance of March 31, 2025? Well, it is the due date to file most of the information returns. If you are a business, individuals who paid more than $600 to an individual contractors or entity for services, received $600 or more in mortgage interest or student loan interest, or operate an educational institution, provide insurance to an employer or individual, you must file information return forms with the IRS.
Countdown to Compliance: Key Forms Due by March 31, 2025
- ACA forms
- Form 1098 Series
- Form 1099 Series
ACA forms
Form 1095-C
Applicable Large Employer should report the insurance offered to the employee and their dependents and status of the insurance provided to IRS using Form 1095-C along with 1094-C. File the ACA form 1095-C now with TaxZerone.
Form 1095-B
Businesses (Except Applicable Large Employer) providing insurance to the employees through self-insured programs and insurance provider offering insurance in the marketplace can report the Minimum Essential Coverage provided to the individual using Form 1095-B along with 1094-B. File the forms now with taxZerone.
Form 1098 Series
Form 1098
Form 1098 is used to report the mortgage interest received from the individual. Lender needs to report the interest received from the borrower to the IRS if the interest is $600 or more. File your mortgage interest with TaxZerone.
Form 1098-E
Form 1098-E is used to report the interest received from the student loan provided. Lender needs to report the interest from the loan for the educational purpose. File you form 1098-E with TaxZerone.
Form 1098-T
Form 1098-T is used to report the Tuition payment received by the eligible educational institution. Every educational institution needs to report the tuition payment made by the student to the IRS. File form 1098-T with TaxZerone.
Form 1099 Series
All 1099 forms must be filed by March 31, 2025. Below is a list of information return 1099 forms with an upcoming deadline:
- 1099-MISC – Miscellaneous Income
- 1099-INT – Interest Income
- 1099-DIV – Dividends and Distributions
- 1099-B – Proceeds from Broker and Barter Exchange Transactions
- 1099-K – Payment Card and Third-Party Network Transactions
- 1099-G – Certain Government Payments
- 1099-R – Distributions from Pensions, Annuities, Retirement, Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
- 1099-C – Cancellation of Debt
- 1099-S – Proceeds from Real Estate Transactions
- 1099-SA – Distributions from an HSA, Archer MSA, or Medicare Advantage MSA
- 1099-LTC – Long-Term Care and Accelerated Death Benefits
- 1099-OID – Original Issue Discount
- 1099-PATR – Taxable Distributions Received from Cooperatives
- 1099-Q – Payments from Qualified Education Programs
TaxZerone file all 1099 forms. File before the deadline and avoid IRS penalties.
Why Should I file before the deadline?
Filing Information Return forms on time is essential for Business and individual required to file the form to avoid unwanted financial burden in the name of IRS penalties. File your information return with TaxZerone and maintain compliance with IRS.
