1099 Tax Deadline Changes that will Impact Property Managers and Landlords (2016)

Real Estate Technology with Rentec Direct

For those who are property managers or landlords who need to file 1099-Misc the deadlines have changed for 2016 reporting. 





The New Rule

Filers will be required to send 1099-MISC recipient copies and submit the forms whether paper or e-file to the IRS by January 31st, 2017. 


Complications with the New Rule

To make it even more complicated this new filing deadline as it relates to form 1099-MISC only impacts filers reporting nonemployee compensation payments in Box 7.  Although the majority of us will be filing 1099-MISC with information Box 7, I am sure this will be creating confusion.  (Imagine that?)


How has this changed

In the prior years you would provide recipient copies prior to filing so they had time to review them and you could make correction versus filing amendments.  It sounds like we will no longer have that time to allow your employees, vendors or owners to review forms and more corrected 1099's will be sent in this year.



Suggest reviewing your data now to get ready for the end of the year reporting.  By planning ahead for these new deadline, form changes and updates you are less likely to file late and incur penatlies associated with noncompliance and untimely filings.





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Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Thanks for the update on this one. I will be informing my team today.

Oct 21, 2016 01:32 AM #1
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC


Thanks for the heads up on the 1099 tax deadline for property manages.

Good luck and success.

Lou Ludwig

Oct 21, 2016 01:26 PM #2
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is important information to share.

Have a great Saturday and an outstanding weekend.

Oct 21, 2016 11:08 PM #3
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good Morning Kathryn - this is good info for all of us who issue 1099s.

Oct 25, 2016 02:15 AM #4
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I've had some mishaps with incorrect 1099's several times !

Mar 24, 2017 07:10 PM #5
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Kathryn J.

Rentec Direct
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