1099 prep and severance tax
Your 1099s, prepped and ready on time.
1099: the IRS form that reports what you paid an owner or vendor during the year. We keep the tax records all year and prep your 1099s for you, ready to e-file.
20 clients and hundreds of wells operated
What you get
What lands on your desk.
- Tax records kept Legal name, mailing address, tax ID, and W-9 status for every owner and vendor.
- Tax IDs protected Tax IDs are encrypted and masked, and only people you authorize can see them.
- Reportable payments found Who needs a 1099, which form, and the total paid in the year.
- 1099-NEC and 1099-MISC prepared The right form for each owner or vendor.
- Recipient copies A copy for each owner and vendor.
- Ready to file Files ready for you or your CPA to e-file, or printed on the official IRS forms for paper.
- Severance tax We can help you file severance taxes. They're filed outside your accounting system, directly in the Texas Comptroller's system. Billed separately, so ask us about pricing.
Missing tax IDs, before 1099 season
2 owners have no tax ID on file.
Ask them for a W-9 now, so your 1099s are ready on time.
How it works
Three steps.
Give us access to your books.
We are WolfePak proficient and can help you convert from QuickBooks or any other accounting software.
Send bills and statements as they come.
Forward vendor bills and buyer check stubs to your RedBird address. Or reply to our text with a photo or a file.
You approve. We close the month.
You approve every payment before it goes out, unless your agreement says otherwise. We close the books, and you get the Monthly Compliance and Close Report.
Compare
The old way vs RedBird.
The old way: Missing tax IDs found in January.
With RedBird: Owners or vendors with no tax ID flagged early, so you can ask for a W-9.
The old way: 1099s printed and mailed in a rush.
With RedBird: Files ready for you or your CPA to e-file.
The old way: Payment totals added up by hand.
With RedBird: Each year's totals pulled from the books.
The terms, in plain English.
- 1099-NEC
- The IRS form for what you paid a vendor or contractor for their work.
- 1099-MISC
- The IRS form for other payments, such as royalties.
- W-9
- The form an owner or vendor fills out to give you their tax ID.
- Copy A
- The copy of a 1099 that goes to the IRS. On paper, it must be the official red form, not a copy printed at home.
Questions.
Do I have to file 1099s electronically?
If you file 10 or more information returns for the year, counting all types together, the IRS requires electronic filing. Under 10, paper is allowed on the official IRS forms. We prepare either way, and you or your CPA files.
What if an owner never sent a W-9?
We flag missing tax IDs early, so you can ask for a W-9 long before year end.
Get started
Get your back office off your desk.
Tell us what you need. We look up the public record the state keeps on your operator number. Then we reply to set up a call.
20 clients and hundreds of wells operated