Rentec Direct streamlines compliance with new regulation requiring more landlords than ever to e-file in 2024
GRANTS PASS, Ore., Feb. 13, 2025 /PRNewswire-PRWeb/ -- Rentec Direct, a leading property management software provider, is helping landlords and property managers nationwide stay tax-compliant following new IRS regulations implemented in 2023. The updated rule now requires businesses submitting 10 or more tax forms to file electronically instead of on paper, a drastic change from the previous threshold of 250 forms. Rentec Direct ensures its clients can meet this requirement with the push of a button through its seamless e-filing integration with Nelco Solutions.
Through a collaboration with Nelco Solutions established in 2013, Rentec Direct enables landlords and property managers to electronically file 1099 tax documents accurately and on time. The system automatically compiles all necessary data, generates accurate 1099-MISC and 1099-NEC forms, sends copies to identified recipients and e-files with the IRS and state agencies. Traditional tax filing can be expensive and time-consuming, often requiring professional accountants and extensive paperwork. Rentec Direct's e-filing service eliminates the need for manual entry and simplifies compliance, helping landlords and property managers save time and money.
Nathan Miller, President and Founder of Rentec Direct, said: "The rental industry has been slow to adopt digital solutions, but regulatory changes like this one make it clear that we are in a digital era—embracing technology is no longer optional, it's essential. By securely integrating e-filing directly into our software platform, we've made it easier than ever for landlords and property managers to stay compliant, cut costs, save time and stay ahead of industry changes."
Property managers and landlords who pay property owners, attorneys and other vendors more than $600 per calendar year are required to file 1099 tax forms with the IRS, and the new e-filing threshold is expected to affect most rental operators. Filing directly with the IRS can cost as much as $25 per form, but Rentec Direct's integration with Nelco Solutions allows clients to file for just $5 per form. In 2025, Rentec Direct helped clients submit more than 20,000 1099 tax forms electronically before the January 31 federal deadline.
For more information on 1099 e-filing with Rentec Direct, visit: rentecdirect.com/blog/
About Rentec Direct
Rentec Direct provides industry-leading property management software and tenant screening solutions for real estate professionals. Key features include online rent payments, a mobile app and tenant portal, vacancy listing syndication, and accounting tools. Founded in 2007, Rentec Direct is the third-largest software in its sector and is consistently the highest-rated by investors, landlords, and property managers. Recognized on the Inc. 5000 list of fastest-growing private companies for eight consecutive years, Rentec Direct was also named Real Estate Company of the Year in the 2024 American Business Awards, Most Customer Friendly Company of the Year in the 2024 Best in Biz Awards and listed among the U.S. Chamber of Commerce's Top 100 Small Businesses. https://www.rentecdirect.com/
Media Contact
Brentnie Daggett, Rentec Direct, 5412166000, [email protected], www.rentecdirect.com
SOURCE Rentec Direct
Share this article