All firms using Pro1099 that are current subscribers to SoftPro's Annual Maintenance Service or have begun using Pro1099 60 days prior to the release of a new update are eligible to receive the 1099 Compliant Release.

Filing Deadlines:

Electronic Filing Only – Recipient Copy - February 15, 2012 / IRS Copy - April 2, 2012

As 1099-S reporting only occurs once a year, it is always helpful to take a refresher course in Pro1099. Follow these five simple steps to success for 1099-S submissions with Pro1099:

Step 1

For Standard 12.0 or higher users and Enterprise 6.2 or higher users: simply change the date to 2011 in your Pro1099 preferences screen.

Customers currently on AMS and running Enterprise Version 6.1 or lower: download the Pro1099 Tax Year 2011 update at www.goget1099.com. Just log-in and select "1099 Update". Please review the Preparation, Submission and 1099 FAQ guides for everything you'll need to know. Call 800-848-0143 to set up an appointment with a qualified SoftPro Support Analyst if you need assistance.

Step 2 – Enter Your TCC Code
If you don’t have a Transmitter Control Code (TCC), you must file IRS Form 4419 to obtain one. Form 4419 can be found in the back of Publication 1220. Publication 1220 contains everything you need to know about electronic filing, including IRS/ECC-MTB contact information. To enter your TCC code in Pro1099, select Tools/Transmitter/Payer Information and enter the code in the TCC: field.
Note: To request paper forms and publications related to 1099-S submission filing, call the IRS at 800-TAX-FORM or visit the IRS website at www.irs.gov.

To request an extension, visit the IRS website at https://fire.irs.gov/. You'll have to Log On (Create New Account if you don't already have one) to request the extension.

Step 3 – Run an Exceptions Report
To make certain that each 1099 record in your database contains all of the required information, run an Exceptions Report. If the report finds errors, correct them as soon as possible! Also, if sellers did not receive Substitute 1099-S Forms at closing, print and mail them to sellers now!

Step 4 - Create Your IRSTAX File With Pro1099
During the process, you will be asked to select a folder in which to save the IRSTAX file. You will then be responsible for submitting the file via the IRS FIRE system.

Step 5 – Send In Your Submission!
You will need to connect to the IRS FIRE system using your computer’s internet connection. You can learn about how to file electronically from any of the following IRS publications:

• Publication 3609 Filing Information Returns Electronically
• Publication 1220 Specifications for Filing Forms 1098, 1099, 5498, and W-2G Electronically.
• Publications 3609 and/or 1220 can be downloaded from www.irs.ustreas.gov/formspubs.