CHICAGO, Jan. 26, 2013 (GLOBE NEWSWIRE) -- Payroll and 1099 solutions developer, RealTaxTools.com, reminds US businesses and tax professionals of the 2013 deadline for filing contractor 1099 forms. The software maker also invites filers to try the 2012 version of its W2 Mate software, which can be used for W-2 1099 printing and electronic reporting.
A free demo of W2 Mate software can be downloaded from http://www.realtaxtools.com/. Customers can purchase the software and receive it instantly.
According to 2012 IRS regulations, penalties may be assessed for failure to file correct information returns (1099, 1098 and other similar tax forms) by the due date, without reasonable cause. This includes Form 1099-MISC. The penalty may also apply if the filer shows incomplete or incorrect information, or files on paper when required to file electronically. Businesses and accounting professionals required to process IRS Form 1099-MISC this year can rely on W2 Mate for all their 2012 / 2013 filing needs.
The PDF 1099 forms feature available in W2 Mate makes issuing 1099s to contractors as simple as sending email. No 1099 forms to print, no envelopes to stuff, no paper cuts, no postage and no headache. Just enter contractor information, generate a PDF file and email. The PDF files generated by the W2 / 1099 compliance system are encrypted and require a password in order to be opened. This makes sending these files by e-mail or any other electronic means more secure. The electronic version of form 1099 generated by W2 Mate contains all required information and complies with applicable IRS procedures relating to substitute statements to recipients.
IRS regulations mandate that, if you paid someone who is not your employee, such as a subcontractor, attorney or accountant $600 or more for services provided during the year, a Form 1099-MISC needs to be completed, and a copy of 1099-MISC must be provided to the independent contractor by January 31 of the year following payment. You must also send a copy of this form to the IRS by February 28 (although the form does not have to be sent to the IRS until March 31 if the business files the 1099s electronically, using the FIRE system). Also note that independent contractors may have their own employees or may hire other independent contractors (subcontractors). In either case, they should be aware of their tax responsibilities, including filing and reporting requirements, for these workers.
In a statement Nancy Walters, W2 Mate product manager said, "Preparing 1099 contractor forms is a chore, but it doesn't have to be. This is why we built W2 Mate. Powerful, yet very affordable, W2 1099 software that can be used by small businesses and large alike to print, E-mail and e-File 1099 contractor and other IRS tax forms".
W2 Mate is the perfect software program for business filers looking for answers to questions like how to prepare 1099 MISC forms, how to electronically file 1099-MISC with the IRS in year 2012, how to file 1099's with state of Oregon, how to prepare 1099-MISC in QuickBooks, how to print 1099's with a laser printer and many other similar questions.
Microsoft dynamics, Intuit QuickBooks and Sage 50 / Peachtree consultants and users are invited to try the state-of-the-art 1099-MISC import wizard available inside W2 Mate software by visiting www.W2Mate.com. Interested filers can order W2 Mate 2012 and receive it instantly.
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Source: Real Business Solutions