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2973935 - FAQs on USA IRS TAX legal changes 2020

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This KBA answers the most frequently asked questions for USA IRS TAX Forms legal change 2020.

List of questions answered in this KBA:

Q1. Box No:7 is no longer in report Form 1099MISC from fiscal year 2020.
Q2. IRS has introduced a new Form called 1099NEC (Non-Employee Compensation).
Q3. Has US IRS for Fiscal year 2020 released any File changes or DMEE IDWTFILE_US_1099 tree changes?
Q4. New Forms IDWTCERT_US_1099NEC and IDWTCERT_US_1099NEC_PRE_PRINT are available for Classic WT.
Q5. Syntax errors while uploading form IDWTCERT_US_1099MISC_PRE_PRINT

      Syntax error 1.jpg

Q6. Syntax errors while uploading Form IDWTCERT_US_1099NEC_PRE_PRINT
Q7. Are the Legal changes Form 1099MISC1 2020 is released?
Q8. How many vendors will be printed in one page?
Q9. Does SAP have any plan to release Form IDWTCERT_US_1099NEC1?
Q10. Unable to view note 2999013.
Q11. Sequence Number is incorrectly generated for 1099NEC file in position 500 - 507.
        NEC2.jpg
Q12. Check boxes “Void” and “2nd TIN not” are missing in form 1099NEC.
        NEC1099copyB.png

Q13. What value will be displayed in Box-1 in Form 1099NEC?
Q14. What value will be displayed in Box-4 in Form 1099NEC?
Q15. What value will be displayed in Box-5 in Form 1099NEC?
Q16. 1099NEC generated text file - B records and C record: “Payment Amount 1” appears correctly but then is duplicated under “Payment Amount 7” as well.
        NECduplicate.jpg
Q17. Sample PDF Forms 1099MISC and 1099NEC for fiscal year 2020.
Q18. Report RFIDYYWT which generates 1099NEC text file has K-records.
Q19. How to avoid K-Records generation in 1099NEC text file?


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Environment

  • Financial Accounting (FI)
  • SAP ERP Central Component
  • SAP ERP
  • SAP enhancement package for SAP ERP
  • SAP enhancement package for SAP ERP, version for SAP HANA
  • This is relevant for Country USA

Product

SAP ERP all versions ; SAP S/4HANA Finance all versions ; SAP S/4HANA all versions ; SAP enhancement package for SAP ERP all versions ; SAP enhancement package for SAP ERP, version for SAP HANA all versions

Keywords

IRS, 2020, 1099MISC, 1099Misc, 1099-MISC,1099-Misc,1099NEC, 1099Nec, Legal changes, RFIDYYWT, FE, FE 07, Non-EMployee compensation, USA, US, DMEE, IDWTFILE_US_1099, S_P00_07000134, IDWTCERT_US_1099MISC_PRE_PRINT, Node US_PARTNERSHIP_IND, Field List-US_PARTNERSHIP_IND does not exist, Form IDWTCERT_US_1099MISC_PRE_PRINT, Node US_TIN_NOTICE, Field List-US_TIN_NOTICE does not exist, Node BUKRS, Field LIST-BUKRS does not exist, Copy A, Copy B. Files.zip , KBA , FI-AP-AP-Q1 , Withholding Tax (Reporting) , FI-AR-AR-Q1 , Withholding Tax (Reporting) , How To

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