2011 1099 Reporting Software from W2Mate.com Helps Businesses Avoid Harsh IRS Penalties in the 2012 Tax Season
Chicago, IL (PRWEB) January 19, 2012
1099 software pioneer Real Business Solutions is promoting its W2 Mate W2 / 1099 filing software, available for immediate evaluation and purchase at W2Mate.com. W2 Mate offers the simplest and most comprehensive windows-based W2 1099 preparation software solution, simply and intuitively.W2 Mate software caters to a diverse client base covering many different US industries and offers features to meet specific W2 1099 filing needs of these businesses.
According to the IRS, business 1099 filers who fail to provide correct payee statements and cannot show reasonable cause may be subject to a penalty. The penalty applies if the business fails to provide the statement by January 31 (February 15 for Forms 1099-B, 1099-S, and 1099-MISC (boxes 8 and 14 only)), fails to include all information required to be shown on the statement, or includes incorrect information on the statement. The amount of the penalty is based on when the correct payee statement is furnished. It is a separate penalty, and is applied in the same manner as the penalty for failure to file correct information returns by the due date.
“Preparing W2 and 1099 forms is a chore, but it doesn’t have to be. This is why we built W2 Mate. A powerful, yet very affordable,1099 filing software that takes the complexity out of year-end-reporting by providing the right tools to print and e-File 1099 & W2 forms”, says W2 Mate product manager Nancy Walters.
1099s are not just one form, but a class of forms that provide the Internal Revenue Service with an information return. An information return is a tax document that businesses are required to file to report certain business transactions to the IRS. These transactions vary from interest income, real estate transactions, sales of securities, charitable gift annuities, and capital gains distributions, but the most common for small business owners are payments to independent contractors or vendors.
W2 Mate W2 1099 software offers support for paper-print and paperless (electronic) wage and information return preparation for W2, 1099-MISC, 1099-INT, 1099-DIV, 1099-R, 1099-S, 1098-T, 1098, 1099-A, 1099-B, 1099-C, 1099-PATR, 1099-OID and associated transmittals (W-3 and 1096 forms).
W2 Mate meets the 1099 electronic filing requirements of the Internal Revenue Services and a number of state departments of revenue by proving the ability to generate files in the IRS 1099 electronic filing format. The W2 1099 software also fully supports the EFW2 format for e-filing W2′s with the Social Security Administration and states that accept EFW2 submissions. For interested QuickBooks users, a free 1099 software demo can be downloaded by visiting the W2 Mate product page.
W2 Mate 1099 Software Highlights
Data import from MS Dynamics, Great Plains, Intuit QuickBooks, Sage Peachtree, Sage DacEasy, Excel and CSV.
Prints 1099 recipient copies on regular white paper.
Unlimited use of W2, 1099-MISC, 1099-INT, 1099-DIV, 1099-R, W-3, 1096, 1099-S, 1098-T, 1098, 1099-A, 1099-B, 1099-C, 1099-PATR and 1099-OID tax forms.
SSA-approved to print W2 and W3 forms on regular paper including government copies.
Unlimited 1099 E filing using IRS FIRE System (No per form fees and No data transmission charges).
Creates employee W2′s as PDF and recipient (vendor) 1099′s as PDF.
Unlimited W2 electronic filing submissions using the EFW2 format.
Efficient and intuitive manual W2 / 1099 data entry.
Employee and recipient information rolls-over from year to year (you don’t have to key in the same 1099 W2 information every year).
Prompt, courteous and reliable U.S.-based support through phone, chat or e-mail.
About real Business Solutions:
Established in 2003, Real Business Solutions is an industry leader in providing small business payroll software, 1099 preparation software and W2 tax software solutions for 2012, 2011, 2010 and before. Real Business Solutions products are used by thousands of businesses, tax professionals, non-profit organization, and government agencies all across America. Real Business Solutions was founded in Illinois in 2003. The Company’s mission has been to provide powerful and great value software solutions coupled with high quality customer service. Through this website small businesses and accounting professionals can find and download software to manage payroll, report payroll taxes, print W2 Forms, Print 1099 Forms, eFile 1099, electronically file W2 forms, print checks and prepare payroll forms like 941, 940, 944, W-2, W-3, California DE-6 , California DE-7 , Texas C-3 , Texas C-4, New York NYS-45, Illinois 941 and Illinois UI-3/40.
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