2014 tax return filing period to open Jan. 31
The new opening day for men and women to file their 2014 tax returns will let the IRS satisfactory time to system and check its tax processing programs. The yearly method for updating IRS programs saw considerable delays in Oct adhering to the sixteen-day …
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Chicago, IL (PRWEB) December 23, 2014
2014 / 2014 1099 MISC application by True Business Answers (RealTaxTools.com / 1-800-507-1992) has been current to contain the capacity to mask recipient (contractor or vendor) social stability quantities on forms 1099-MISC. The new attribute aids safeguard the stability and identification of 1099-MISC recipients. Organization filers and tax professionals can down load the new computer software by pointing their browser to http://www.realtaxtools.com/1099-misc-software program.html .
Proposed IRS rules (REG-148873-09) allow filers of 1099 tax returns to truncate a recipients identification number (social protection variety (SSN), individual taxpayer identification number (ITIN), or adoption taxpayer identification variety (ATIN)) on payee statements. Filers might truncate a payee’s identification number on the payee assertion (which includes substitute and composite substitute statements) despatched to the payee in paper sort or electronically.
The 1099 processing application by RealTaxTools.com will help firms use tax ID truncation regulations and shield by themselves from the liability of sending out 1099 forms that expose the recipient’s SSN. Employing this feature aids avoid identification theft and fraud. The software truncates the SSN by replacing the very first five digits of the 9-digit variety with asterisks (*) or Xs (for example, an SSN 111-11-1234 would seem on the paper payee assertion as ***-**-1234 or XXX-XX-1234).
In accordance to 2014 IRS regulations, penalties may possibly be assessed for failure to file proper data returns (1099, 1098 and other equivalent tax forms) by the owing day, with out affordable cause. This includes Form 1099-MISC. The penalty may possibly also use if the filer demonstrates incomplete or incorrect data, or information on paper when necessary to file electronically. Companies and accounting experts required to process IRS Type 1099-MISC this calendar year can count on W2 Mate for all their 2014 / 2014 submitting wants.
By integrating with the greatest-in-class enterprise accounting, tax and payroll applications, W2 Mate supplies W2 1099 filers with the final resolution for data return and tax form processing for the 2014 / 2014 year. W2 Mate can import info from Microsoft Excellent Plains, Microsoft Dynamics GP /SL, Sage MAS 90, Sage MAS two hundred, SAP, Intuit QuickBooks, Sage Peachtree, Sage 50 and numerous much more.
Year soon after 12 months, modest businesses and accounting corporations count on W2 Mate to approach correct and timely 1099 and w2 returns with the IRS and Social Stability Administration. W2 Mate software has some of the ideal 1099 software reviews in the business. W2 Mate W2 and 1099 tax application gives support for paper-print and paperless (electronic) wage and info return planning for 1099-MISC, 1099-INT, 1099-DIV, 1099-R, W-2, 1099-S, 1098-T, 1098, 1099-K, 1099-A, 1099-B, 1099-C, 1099-PATR, 1099-OID and associated transmittals (1096 and W-three varieties).
Cost-free 1099-MISC processing software program demo can be downloaded by browsing http://www.realtaxtools.com/W2-Mate.html .