1099 Pro's Laura Rothman, Service Bureau Operations, discussed what smart filers are doing now to get ready for January busy season.
CALABASAS, Calif. (PRWEB) January 02, 2020
Starting today, filing entities can schedule their January Service Bureau upload date. Preferential upload dates are available on a first come basis. A scheduled upload date is required to transmit files to the Service Bureau for Print, Mail and eFile services. For $1.16 per record or less, the 1099 Pro Service Bureau can Print, Mail and eFile Forms 1042-S / 1098 / 1099 / 392x / 5498 / W-2G and W-2. Budget-conscious filers can immediately schedule upload date(s) and lock-in rates.
1099 / W-2 / 1042-S filers must purchase or renew software prior to scheduling uploads. 1099 software is available for immediate purchase and download. Renewal customers should contact Sales at (888) 776-1099 to take advantage of limited-time Early Renewal discount rates.
SECURITY OF SENSITIVE DATA
The security of recipient data is of the foremost importance. No filer—large or small—can afford a data breach and the ensuing damage to its reputation. Some companies opt to print and mail forms in-house, believing that they can best restrict access to recipient names and taxpayer identification numbers. Often overlooked however, is which employees will oversee the print job, manually insert tax forms into envelopes, and deliver these sensitive documents to a postal facility. Does the company's security policy allow entry-level or temporary staff to handle sensitive data? Have these employees received training in data security? What internal protocols are in place for the secure disposal of sensitive data and records? If not addressed, these critical factors can have large-scale implications.
The 1099 Pro Service Bureau processes data in its SOC I TYPE II secured environment. All 1099 Pro software products encrypt upload data—including names and taxpayer identification numbers—prior to transmission. Upon receipt, their SOC I TYPE II facility reviews Control Totals (not recipient names and taxpayer identification numbers) to approve uploads for processing. These uploads are transmitted via encrypted FTP to 1099 Pro’s secure print facility where automated machines print tax forms, insert them into envelopes and seal them. Finished jobs are delivered directly to the USPS on or before the respective IRS/SSA deadlines. From start to finish, access to sensitive recipient data is restricted and secured.
TAX FORM DELIVERY OPTIONS
The 1099 Pro Service Bureau successfully prints and mails millions of forms each year. In addition to standard print services, paperless delivery options are available. These "green" options allow recipients immediate, online access to their tax forms, in addition to being more cost-effective than traditional paper mailings.
- Web Presentment—Recipients access tax forms online. Typically used in conjunction with Print and Mail services, web presentment allows recipients fast access to their form and drastically reduces the manpower required by a company for reprints. Requires the inclusion of valid recipient email addresses in Service Bureau upload files. Posted forms are available via ViewMyForms.com.
- Web Presentment + API—Similar to standard web presentment, except that recipients log onto the customer's web portal (with their existing user ID/password) to access their tax form. The ViewMyForms API retrieves their form information behind the scenes and presents the recipient with a PDF version of their tax form. Tax data is available indefinitely. There is no need to include recipient email addresses in Service Bureau upload files.
- E-Delivery—Eligible recipients receive electronic delivery only of their forms. Per IRS regulations, recipients must provide prior consent for this service. Filers interested in e-delivery should contact the Service Bureau immediately for guidance in registering recipients for this service. Recipients not registered for e-delivery receive a paper form in the mail.
Says Laura Rothman, Service Bureau Operations, "I’ve worked in the informational reporting industry for over two decades. Smart filers are reaching out now: renewing software, reviewing sample import files, and scheduling upload dates. Things happen very quickly in January; this is the time to get yourself organized. If you come to me now with an issue or concern, I have many resources to offer you including video tutorials and complimentary technical support."
NEW RULE-OF-250 GUIDELINES
Formally known as the "250-return threshold", the IRS currently requires Filers submitting 250 or more information returns to electronically file (eFile) them. The newly enacted Taxpayer First Act of 2019 significantly reduces the eFile threshold to 100 returns for tax year 2020 and 10 returns for tax years 2021 and beyond.
Although these thresholds apply specifically to information returns of the same type, IRS REG–102951–16 is under consideration to remove the no-aggregate rule. For example, if a Filer submits 300 Forms 1099-INT and 25 Forms 1099-R, under the current law, only the 1099-INT must be eFiled. Under the proposed new rule, if a Filer submits 100 Forms 1099-INT, 100 Forms 1099-R and 50 Forms 1099-DIV, eFiling would be required for ALL of the forms. Filers who fail to eFile when required may be penalized $270 per return.
1099 Pro prides itself on monitoring tax form specific legislation that affects filers. Their topnotch programming staff is ready to implement last-minute changes to IRS/SSA filing requirements to ensure data is in compliance.
1099 INFORMATION RETURN SOFTWARE
1099 Pro’s 2019 1099 software is available for immediate download. Renewal customers are eligible for discounted Early Renewal rates while new customers can easily convert the DEMO version into the full version upon purchase. Professional, Enterprise, and Corporate Suite software versions—in single and multi-user installs—are available to meet all users’ needs. Extensive product and technical support is readily available and always complimentary. Visit http://www.1099pro.com for further details or contact 1099 Pro Sales at (888) 776-1099.
ABOUT 1099 Pro, Inc.
Since 1999, 1099 Pro, Inc. has produced industry-leading tax reporting software for 1099 Informational Returns, W-2, 1042-S, ACA 1095 and FATCA 8966 forms. 1099 Pro software imports ASCII data and processes printing, electronic filing and corrections. 1099 Pro’s hosting and data facilities are SSAE 18 SOC I Type II certified. 1099 Pro, Inc. proudly entered the Common Reporting Software / AEOI Reporting Software field in Tax Year 2016.