Year-end Process for RCA Quickbooks
1.) 1099’s - Per US law and IRS requirements, each year we must file the 1099s and 1096 forms with the IRS as a complete corporation for RC Activities, Inc. Actual 1099’s must be sent to each individual or vendor by January 25th, and the 1096 sent to the IRS. In order for us to do so, we need your help and information.
- You must collect a W9 for all individuals, vendors or contractors that you have paid $600 or more over the calendar year in 2020. (individual stipends to people, LLC’s, independent contractors, etc. – does not include any reimbursements – expense reports or stipends to CRC, PSS or LCPS) (See attached W9)
- Please send us the following by December 31st, 2020:
- Names of all individuals and vendors, with total amounts paid in 2020
- Their W9 IRS completed and signed forms.
- Your contact information, as we will need to work with you the first week of January.
- Questions, please contact Amanda Obregon at BooksToBank@gmail.com
2.) 2020 Tax Acknowledgement Letters
- Per IRS Requirements - Donations from any individual that total’s $250 or more in the fiscal year of 2020 must be acknowledged by a letter. Please note, only a few major localities are responsible for processing their own tax acknowledgement letters, but the rest must all be completed centrally through RC Activities, Inc. national office. Here are a few considerations:
- Donations made online through the RC CRM, Acceptiva and other systems typically send an automatic thank you tax acknowledgement letter via email (or on receipt). This fulfills the IRS requirement, so no further action is needed unless a consolidated statement is requested by the benefactor.
- Tax acknowledgement letters for donations made via checks are completed and sent centrally. The following needs to be sent to us no later than January 2, 2021:
- Copies of each individual check (totaling $250 or more or multiple checks that reach $250 or more). These can be sent to us as received throughout the year (preferred), or all together at the end of the year.
- Email to: Customerservice@rcactivities.com
- Questions, contact Anna Kulway at 855-556-6872.
3.) Year-end Charitable Contributions
- To allow for delay in receiving year end gifts sent by mail, please plan to process gifts for 2020 through Friday, January 8, 2021 as long as they meet the criteria below:
- Contributions made by Credit Card: Any donation made by credit card processed through 12/31/2020 will be counted toward 2020.
- Contributions made by Check: to be counted for 2020, both the check date and the post mark must be no later than 12/31/2020. Checks given in person should also be dated and received no later than 12/31/2020. All checks should be deposited by Jan 8th 2021.
- NOTE: All Checks received with 2020 date, in December or any prior month, deposited AFTER January 8th 2021, should count as 2021 revenue. If you deposit after January 8th 2021, please use 2021 date when entering in QBE.