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2023 Form 1099-OIDE-file:
File Your Interest Income Electronically

Streamline your tax reporting for original issue discount (OID) by electronically filing Form 1099-OID with TaxZerone.

E-file Form 1099-OID

Takes less than 5 minutes

Don't Overpay for E-Filing!

Get started for as low as $2.49 per form, with rates dropping to just $0.59 per form for higher volumes.

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For your return volume

File Your 1099-OID Electronically in 3 Easy Steps!

Save Time & Ensure Accuracy: E-File Information Returns with TaxZerone

File Your 1099-OID Electronically in 3 Easy Steps!
  • Fill out Form 1099-OID

    Fill out Form 1099-OID

    Enter all required information for the payer and recipient, including original issue discount (OID).

  • Review & transmit the return

    Review & transmit the return

    One final check before submitting your forms to the IRS.

  • Send the recipient copy

    Send the recipient copy

    Get electronic copies delivered instantly to Recipients via ZeroneVault

E-file Form 1099-OID

Takes only 3 steps

Why is TaxZerone Your Perfect 1099-OID E-Filing Partner?

Discover TaxZerone for Effortless IRS Filing

Smart IRS validations

Smart IRS validations

Don't let errors slow you down. TaxZerone's real-time validation ensures smooth 1099-OID filing.

Bulk upload support

Bulk upload support

Save hours with TaxZerone's bulk upload feature. No more manual data entry!

Electronic Delivery

Electronic Delivery

Get your 1099-OIDs delivered electronically - Fast, Secure & On Time with TaxZerone.

Competitive pricing

Competitive pricing

Experience competitive pricing with TaxZerone, offering affordable rates for all your IRS Form 1099-OID filing needs.

Simplified form-based filing

Simplified form-based filing

File Your 1099-OIDs easily with TaxZerone's user-friendly form-based interface.

Guided filing

Guided filing

Access TaxZerone's helpful instructions & on-demand support for smooth 1099 filing.

Simplify Your 1099-OID:Streamline Original Issue Discount Reporting

Effortless E-Filing Starts Here. Get Started with TaxZerone!

E-file Form 1099-OID

Takes 3 steps and less than 5 minutes

Frequently Asked Questions

1. What is Form 1099-OID and why do I need to file it?

Form 1099-OID, or Original Issue Discount, is used to report the taxable income generated from the difference between the discounted purchase price and the face value of a debt instrument, such as bonds or notes. As a payer or issuer of such financial instruments, you are required to file Form 1099-OID to inform both the IRS and the recipient about the original issue discount income earned. Accurate filing ensures compliance with IRS regulations and helps avoid potential penalties.

2. What information needs to be included on Form 1099-OID?

Ensuring accurate and complete Form 1099-OID filing requires including the following key information:
  • Payer Details : This includes your legal business name, address, and Employer Identification Number (EIN).
  • Recipient Details : Accurately report the recipient's name, address, and Taxpayer Identification Number (TIN), often a Social Security number (SSN) for individuals or an Employer Identification Number (EIN) for businesses.
  • Original Issue Discount (OID) Amount : This is the crucial element. Report the total amount of interest income accrued by the recipient during the tax year, even if it wasn't paid out yet.
  • Federal Income Tax Withheld (Optional) : If you withheld any federal income tax from the recipient's interest payments, report the withheld amount in this section.

3. When are the deadlines for filing Form 1099-OID?

There are two key deadlines:
  • Filing with the IRS : The deadline is February 28th of the following year (March 31st for electronic filing).
  • Furnishing Copy to Recipient : You must provide a copy of the form to the recipient by January 31st of the following year.

4. What are the penalties for failing to file Form 1099-OID on time?

Failing to file Form 1099-OID on time can result in penalties, which vary based on the lateness of the filing and whether the failure was due to intentional disregard. Penalties can be substantial, so timely and accurate filing is crucial.