1099 Charles Jones Reporting Form PDF Details

When it comes to complying with the specific requirements of Section 6045(e) of the Internal Revenue Code, amended by the Tax Reform Act of 1986, for reporting real estate transactions, the 1099 Charles Jones Reporting Service plays a pivotal role. Administered by Signature Information Solutions LLC, this service ensures that information returns on Form 1099-S (previously Form 1099-B) are accurately transmitted to the IRS. Subscribers to the service, encompassing firms and companies, are tasked with the collection and submission of necessary transaction details for each real estate deal within a stipulated 30-day window post-closing or from the application date, as outlined in the provided guidelines. Signature Information Solutions not only acknowledges each transaction processed but also commits to forwarding information returns to sellers or provides a substitute Form 1099-S for distribution at closing. Importantly, the responsibility for error identification and correction falls on the applicant, unless discrepancies are promptly reported to Signature for rectification without extra charges. With a commitment to archiving returns or reconstructing data for up to four years and a mandate for submission of reporting forms within ten days at the end of each calendar year, the service strictly adheres to deadlines to avoid late charges or penalties. Acknowledging that it does not offer tax or accounting advice, the 1099 Charles Jones Reporting Service highlights the applicant's sole responsibility for legal compliance, while also indicating the possibility of future requirements adjustments by the IRS.

Form Name1099 Charles Jones Reporting Form
Form Length2 pages
Fillable fields0
Avg. time to fill out30 sec
Other namesccharles joens 1099 reporting form, charles jones 1099 s reporting form, charles jones 1099 form, charles jones printable form

Form Preview Example

1099 Reporting Service

Provided by Signature Information Solutions LLC

P.O. Box 8488, Trenton, NJ 08650-0488

609.538.1000 • 800.792.8888 • Fax: 866.235.6274




Firm or Company:


































Federal Tax I.D.# or S.S.#:

I authorize Signature Information Solutions LLC (“Signature”) to transmit information returns regarding real estate transactions on Form 1099-S (previously Form 1099-B) to the I.R.S. for the purpose of complying with Section 6045(e) of the Internal Revenue Code as amended by

the Tax Reform Act of 1986 and further regulations stated in Internal Revenue Bulletins con- cerning the requirements for iling such returns on approved magnetic media, subject to the

following terms and conditions:

1.The applicant assumes the responsibility to collect the information required to be re ported to the I.R.S. for each real estate transaction and to submit a copy of such infor

mation to Signature on reporting forms supplied or approved by Signature within 30 days after closing or the date of this application, except as stated in paragraph 7 below. The applicant further agrees to attempt to secure the correct tax identiication numbers for each transaction.

2.Signature will send an acknowledgement of each transaction it processes to the applicant for veriication. The applicant is responsible for any errors or omissions of such information unless Signature is notiied of such discrepancies. Signature will then correct any errors and ile a corrected return, if necessary, at no additional charge.

3.Signature will forward a copy of the information return to the seller at the

address designated on the reporting form by January 31 of the year following the trans- action, or will provide the applicant with a copy of a substitute Form 1099-S which may be given to the seller at the time of closing.

4.Signature will transmit on behalf of the applicant information returns to the I.R.S. on approved electronic format and will be responsible for the timely reporting of such information.

5.Signature will retain a copy of the information returns iled with the I.R.S. or the ability to reconstruct the data for four (4) years.

6.All reporting forms must be submitted to Signature within 10 days of the end of each

calendar year. Reporting forms received after this deadline may not be processed or may be subject to late charges. Signature will not be responsible for penalties or iling requirements for reporting forms received after this deadline.

7.The applicant acknowledges that the services, instructions or forms provided by Sig

nature do not represent tax or accounting advice and that the applicant is solely responsible for compliance with applicable law, except as stated herein.

8.The applicant understands that the requirements for iling information returns with the I.R.S. may change and that Signature may issue new instructions, require additional information, or change the forms required to be used.



Revised 02/11/2011

1099 Application 2-2011.indd

Charles Jones and Signature Information Solutions are registered trademarks of Signature Information Solutions LLC. ©2011 Signature Information Solutions LLC. All rights reserved.

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