If you don't see a 1099 online for your business account, it may be because your account is exempt from 1099 reporting by the IRS. Please visit your local branch to update the tax code on your account if you believe that this is incorrect.
If the total interest paid on all deposit accounts is less than $10.00, a 1099 will not be issued; however, you are still responsible for reporting the interest when filing your tax return. The interest paid on each account is listed on your December and January statements. For all tax matters, please consult your personal tax advisor for advice.
If the total interest paid on all deposit accounts is less than $10.00, a 1099 will not be issued; however, you are still responsible for reporting the interest when filing your tax return. Businesses that are set up as a corporation with a tax code of 01 on their accounts will not receive any 1099 reporting, even if they are paid $10 or more in interest. The interest paid on each account is listed on your December and January statements. For all tax matters, please consult your personal tax advisor for advice.
You can find on your January – March statements the total interest you paid on your Business loan or line of credit. Form 1098 is only required to be issued when interest paid by an individual or sole proprietor is $600 or more, and the loan or line of credit is secured by real property. For all tax matters, please consult your personal tax advisor for advice.
The Tax Payment service offered through Chase Online for Business allows you to pay certain federal business taxes electronically, eliminating the need to make trips to the branch to pay your federal tax deposits. Just log in from home, office, or anywhere you choose. Fees apply for this service.
If you are a business customer you can make the following federal tax payments:
Note: The Tax Payment Service cannot be used to make federal tax payments when documentation must accompany the payment. In those instances, you must use a paper check.
No. You cannot make federal tax payments electronically when documentation must accompany the payment. For example, you cannot use Chase Online for Business to make federal tax payments when:
These examples are not an exhaustive list of the types of situations where documentation must accompany the payment. Please check your federal tax information.
If you're already a Chase Online for Business customer, you can sign up for the Tax Payment service from "Payment & Transfers" and then clicking "sign up" under the Tax Payment Service section. You can also sign up by simply contacting Customer Service at 1-877-CHASEPC (1-877-242-7372) 24 hours a day, 7 days a week. If you are new to Chase Online for Business, you can enroll online, visit your local branch, or call 1-800-CHASE24 (1-800-242-7324) and select option 4.
We'll send you an enrollment kit that includes the IRS Form 8655. An authorized individual for your business must complete and sign or download the form, fax it back to get the processing started. The completed form should then be mailed to Chase in the self-addressed postage-paid envelope. The Tax Identification Number entered on this form must be associated with your current Chase Online for Business customer profile; this is the same Tax Identification Number that you entered when applying for Chase Online for Business. To assist you in determining the Tax Identification Number to enter, your current Chase Online for Business Customer ID is indicated in the upper right hand corner of the form. Upon receipt of the completed IRS Form 8655, we will continue our enrollment process and will notify you by Message Center within Chase Online for Business when the Tax Payment Service is available for use.
Note: Small Business customers who wish to make federal tax payments for more than one Tax Identification Number must enroll in Chase Online for Business separately for each Tax Identification Number.
For more information about IRS Form 8655, or if you are unsure which Tax Identification Number to use, contact Customer Service at 1-877-CHASEPC (1-877-242-7372).
There is a low, flat monthly fee of $5.00 regardless of the number of payments.
If Chase receives your tax payment instructions by 8 PM ET on a bank business day, the Internal Revenue Service will have your payment within two bank business days thereafter. A business day is every day except Saturday, Sunday, and federal holidays.
Yes. Tax payments are debited from the Pay From account on the Send On date, which is one day before the deliver by date.
No, repeating payments cannot be scheduled for federal tax payments because the tax period and amount is likely to be unique for each payment.
You may initiate a payment reversal request after the 8 PM ET cutoff on the account debit date or up to five bank business days after the tax payment date by contacting Chase Customer Service at 1-877-CHASEPC (1-877-242-7372). Do not use the Secure Message Center for reversals. Initiation of a reversal is not a guarantee that the funds will be returned. Fees apply for each payment reversal request initiated.
If you want to follow up regarding a tax payment that was returned, make a note of the reason for the return (displayed in red in Tax Payment History). Then contact Chase Customer Service through the Secure Message Center, or call us at 1-877-CHASEPC (1-877-242-7372).
You cannot delete an account until you've deleted all pending payment instructions.
For more information on how to use this service review go to www.chase.com/getstarted to view the online demo, tutorial, user guide or call 1-877-CHASEPC (1-877-242-7372).