The IRS on Wednesday publicized a new free online tool that businesses can use to file 1099 forms.
The new portal, called the Information Returns Intake System, can be used for 1099s for the 2022 tax year and later.
The move comes as the IRS digests nearly $80 billion granted to the agency under the Inflation Reduction Act, some of which goes to technology improvements. The IRS is also working on ways for taxpayers to directly interact with the agency, while reducing the volume of paper filed.
“The launch of IRIS can help reduce the millions ...