The 2002 Version of WorldSharp 1099 Item Preparation System Now Shipping Forms and Electronic/Magnetic Reporting for 2002 Ready to Go

WorldSharp Technologies, Inc. announces that the 2002 version of their WorldSharp 1099 Item Preparation System is ready for shipping. The system includes all of the 2002 1099 forms and IRS electronic/magnetic reporting capability.

For Immediate Release:

The 2002 Version of WorldSharp 1099 Item Preparation System Now Shipping

Forms and Electronic/Magnetic Reporting for 2002 Ready to Go

Angel Fire, New Mexico, USA - September 4, 2002 -- As soon as the specifications for the electronic/magnetic reporting were released by the IRS, WorldSharp Technologies, Inc. started putting the finishing touches on the 2002 version of their popular WorldSharp 1099 Item Preparation System. The printing modules for the 2002 forms including the new 1099-Q were already finished. The full 2002 version of the system is now complete and shipping.

Bobby Anderson, president and CEO of WorldSharp said that in the past, primarily banks and financial institutions have used the system. That is because WorldSharp has a number of banking software products and primarily markets to that industry. WorldSharp expects to expand the market for the product this year by bundling all the forms and features into a one-price package. The price of the new system is $69.95 and that includes email and telephone support through the tax-reporting season. The only feature that has not been included in the bundled price is the 1042-S printing and electronic/magnetic reporting. That feature is available for an extra $50. He expects the price to help open up the market of small companies and accounting firms.

The 2002 version is a true 32-bit Windows version that works with all Windows version from 95 to XP. WorldSharp has tried to make the system as user friendly as possible. It has 2 modes for data entry, one a fast mode for users that are used to heavy input and a WYIWYG mode in which a replica of the form appears on the screen with data entry fields in the appropriate place. Many of the bank users have the information already in a computer readable form (from other software systems). Those users can import the data directly into the WorldSharp 1099 Item Preparation System.

Printing can be on pre-printed forms or blank paper. On inkjet and laser printers, the system will print the form and data. The system prints or reports Forms 1098, 1099, 5498, W-2G. The reporting to the IRS can be electronically or magnetically to diskettes or tape cartridges.

WorldSharp Technologies, Inc. is located in Angel Fire, New Mexico. Information about the system can be obtained on the website www.worldsharp.com , by email info@worldsharp.com or by telephone (505)377-3111.

WorldSharp 1099 Item Preparation Systems Fact Sheet:

Forms printed and reported:
1098, 1098-E, 1098-T, 1099-A, 1099-B, 1099-C, 1099-Div, 1099-G, 1099-Int, 1099-Ltc, 1099-Misc, 1099-Msa, 1099-OID, 1099-Patr, 1099-Q, 1099-R, 1099-S, 5498, 5498-Msa, W-2G and 1042-S (special option).
Prints Form 4804 Transmittal of Information Returns Reported Magnetically
Prints Form 4419 Application for Filing Information Returns Electronically/Magnetically
Prints Form 8809 Request for Extension of Time To File Information Returns

Operating Systems:
Windows 95, 98, Me, NT, 2000, XP.

Features:
Input information by operator
Import information from ASCII file
Prints data on preprinted forms
Prints forms and data on inkjet and laser printers
Creates magnetic reporting file for diskettes, tape cartridges or electronic filing.
Allows for submission of correction files (2002 and prior years) to IRS.
Multi-Company capability
Email and telephone support
Allows user defined modification of forms.

Included on CD:
WorldSharp 1099 Item Preparation System
Help files
IRS Publication 1220 Specifications for Filing Forms 1098, 1099, 5498 and W-2G Electronically or Magnetically.

Price:
$69.95 (includes email and telephone support)
$50.00 1042-S option
Credit Cards Accepted

Address:
WorldSharp Technologies, Inc.
P.O. Box 699
Angel Fire, NM 87710

Telephone:
Voice (505)377-3111
Fax (413)812-4322

URL:
www.worldsharp.com

Email:
info@worldsharp.com

Press Contact:
Bobby Anderson
(505)377-3111
bobby@worldsharp.com