Which tax form does not need to be filed by the property manager in the final quarter of the year?

The choice of 1099 as the form that does not need to be filed by the property manager in the final quarter of the year is based on the specific reporting timeline associated with this form. The 1099 form, particularly the 1099-MISC and 1099-NEC, is typically used to report payments made to independent contractors and other non-employee compensation.

While property managers may need to prepare and distribute 1099 forms to contractors by the end of January of the following year, they are not required to file these forms during the final quarter of the current year. Instead, the completion and filing of 1099s is an annual task that takes place after the year has ended, specifically in January when those payments are reported for the previous year.

In contrast, other forms such as the W-2, which reports wages and salaries of employees, must be finalized and filed by property managers to the Social Security Administration and provided to employees by the end of January. The W-4 is a form for withholding allowances that employees fill out, and while it's important for payroll processes, it is not filed with the IRS on a quarterly basis.

The 1040 form is an individual income tax return and while property managers,