1099 Timeline

To: Management Council Members, VPs of Finance, and Business Managers

From: Shared Services Center

Area: Accounts Payable

Reason: 1099 Timeline

Date: December 18, 2020

Below, please find the timeline for this year’s 1099 processing. Please note in the timeline below that on 01/21/21, we will be sending each college a spreadsheet to review and verify with us prior to printing on 01/29/21. Please be prepared for this review and make the necessary arrangements as we will need your response no later than 01/25/21. The only thing needed from each college prior to that time is information regarding any deceased employees and their related information. Please let us know if you have any questions.

2020 1099 TIMELINE
START END DURATION TASK
01/04/21 01/05/21 2 Run reports and build spreadsheet
01/06/21 01/11/21 4 Review vendor classifications
01/12/21 01/15/21 4 Process preliminary adjustments
01/18/21 01/20/21 3 Run and review duplicate & mismatch reports; Process adjustments from review; Process special adjustments.
01/21/21 01/21/21 1 Re-run reports; build SS for college review; email for verification
01/25/21 Due date for college response
01/26/21 01/27/21 2 Make college adjustments
01/28/21 1 Run reports and update spreadsheet
01/29/21 1 Print/stuff/mail
01/29/21 1 Transmit to IRS – FIRE