Monday, August 9th, 2010

1099 Electronic Filing: IRS Releases E-Filing Specs for 2010 1099s


Our 1099 software includes full support for 2010 1099 e-filing in accordance with IRS publication 1220 Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, 8935 and W-2G Electronically. To download a free demo, please visit the 1099 software download page. 

General Changes for Tax Year 2010 1099 E-Filing

(1) Under the Combined Federal/State Filing Program, the Form 6847 was obsoleted. IRS no longer requires this Form as part of the Combined Federal/State Filing Program. For approval to participate in the Combined Federal/State Filing Program test filing is still required.

(2) Change in contact name from IRS/ECC-MTB to IRS/IRB (Information Returns Branch), Information Reporting Program to Information Returns Branch and added Mail Stop 4300 to mailing address.

Programming Changes for Tax Year 2010 1099 E-Filing

(1) For all Forms, Payment Year, Field Positions 2–5, for the Transmitter “T” Record, Payer “A” Record and Payee “B” Record must be incremented to update the four-digit reporting year (2009 to 2010), unless reporting prior year data.

(2) Payer “A” Record moved the Combined Federal/State Indicator from field position 26 to field position 6.

(3) Payer “A” Record, expanded Type of Return field from a one position to a two position field. Previously the field position was 27, now it is field positions 26–27.

(4) New Form 1097-BTC, Bond Tax Credit.

In the Payer “A” Record added:
—field positions 26–27 Type of Return added new code BT,
—field positions 28–41 Amount Codes add 3 for ‘Stated Principal’, 4 for ‘March 15, 2010 Allowance Date Credit’, 5 for ‘June 15, 2010 Allowance Date Credit’, 6 for ‘September 15, 2010 Allowance Date Credit’, and 7 for ‘December 15, 2010 Allowance Date Credit’.

In the Payee “B” Record added:
—field position 547 for Issuer indicator, 1 indicates ‘Issuer of Bond or Its Agent Filing Initial 2010 Form 1097-BTC for this bond’, 2 indicates ‘An Entity that received a 2010 Form 1097-BTC for this Bond’
—field positions 548–555 for Bond Issue Date, format YYYYMMDD
—field positions 556–563 for Maturity Date, format YYYYMMDD
—field positions 564–576 for CUSIP Number
—field positions 608–610 Bond Code:

101 Qualified Forestry Conservation Bonds
102 New Clean Renewable Energy Bonds
103 Qualified Energy Conservation Bonds
104 Qualified Zone Academy Bonds
105 Qualified School Construction Bonds
106 Clean Renewable Energy Bonds
107 Midwestern Tax Credit Bonds
108 Other
109 Build America Bonds
—field positions 611–619 for Bond Issuer’s Identification Number
—field positions 620–659 for Bond Issuer’s Name

(5) Form 1098-C, Payee “B” Record changed the Goods and Services from field positions 731–748 to field positions 731–746 reducing the field length from 18 to 16 positions.

(6) Forms 1099 INT, Payee “B” Record new field added. Field title CUSIP Number in field positions 587–599.

(7) Form 1099 R, Payee “B” Record field positions 545–546, added new distribution codeWfor ‘Charges or payments for purchasing qualified long-term care insurance contracts under combined arrangements’, changed code 6 description to ‘Section 1035 exchange (a tax-free exchange of life insurance, annuity, qualified long-term care insurance, or endowment contracts)’, and changed code E description to ‘Distributions under Employee Plans Compliance Resolution Systems (EPCRS)’. Distribution code W can be used with code 6.

(8) Form 3922, Payer “A” Record, field positions 28–41, add Amount Code 8, Exercise Price per Share Determined as if the Option was Exercised on the Date Option Granted.

(9) Form 5498, Payer “A” Record, field positions 28–41 Amount Codes, deleted Amount Code E, Other Contributions and deleted the corresponding Bankruptcy Code in field positions 560–561 of the Payee “B” Record.

Check out our 1099 electronic filing software and see how easy it’s to e-file 1099’s.

Thursday, March 25th, 2010

How to Do 1099 forms | How to Make 1099 forms

If you are looking for a tutorial on how to do 1099 forms or  how to make 1099 forms , then this post has the answer for you.

Use our 1099 form software to do 1099 forms. W2 Mate supports 1099 Misc, 1099 Div, 1099 Int, and 1099 R forms. Thousands of business owners use our 1099 software to create, print, email and file 1099 forms. Try it yourself download a free trial from our free 1099 software demo download page or find more information online at http://www.realtaxtools.com/ .

The process to generate 1099 forms is simple:

Start by entering company and recipient information. Enter the information manually or use an importing option.

Enter the totals on the forms, again this can be done manually or through the import. W2 Mate, 1099 software, importing option allows the user to import a csv file or import directly from Quickbooks.

Below is a summary of 1099 forms types of payments

Advance earned income credit  :  W-2
Allocated tips : W-2
Annuities   :  1099-R
Attorneys, fees and gross proceeds  :  1099-MISC
Auto reimbursements: Employee :   W-2
Auto reimbursements: Nonemployee :  1099-MISC
Awards: Employee  :   W-2
Awards: Nonemployee  :   1099-MISC 
Bonuses: Employee :  W-2 Forms
Bonuses: Nonemployee :  1099-MISC
Capital gain distributions : 1099-DIV
Car expense: Employee   :   W-2
Car expense: Nonemployee   :  1099-MISC
Charitable gift annuities  :  1099-R
Commissions: Employee   : W-2
Commissions: Nonemployee   : 1099-MISC
Compensation: Employee  :  W-2
Compensation: Nonemployee  :  1099-MISC
Crop insurance proceeds :  1099-MISC
Damages  :  1099-MISC
Death benefits : 1099-R
Dependent care payments : W-2
Direct rollovers  : 1099-R
Direct sales of consumer products for resale :  1099-MISC
Directors fees : 1099-MISC
Dividends   :   1099-DIV
Education IRA distributions   : 1099-R
Employee business expense Reimbursement :  W-2
Employee compensation  : W-2
Fees: Employee : W-2
Fees: Nonemployee : 1099-MISC
Fishing boat crew members proceeds  : 1099-MISC
Fish purchases for cash : 1099-MISC
401(k) contributions : W-2
404(k) dividend   : 1099-DIV
Golden parachute: Employee : W-2
Golden parachute: Nonemployee : 1099-MISC
Health care services : 1099-MISC
Indian gaming profits paid to tribal members :  1099-MISC
Interest income   : 1099-INT
IRA distributions : 1099-R
Life insurance contract distributions  : 1099-R
Liquidation, distributions in : 1099-DIV
Loans, distribution from pension plan  : 1099-R
Medical services  : 1099-MISC
Mileage: Employee : W-2
Mileage: Nonemployee : 1099-MISC
Military retirement  : 1099-R
Moving expense :  W-2
Nonemployee compensation   : 1099-MISC
Nonqualified plan distribution  : W-2
Nonqualified plan distribution: Beneficiaries  : 1099-R
Pensions :  1099-R
Prizes: Employee  : W-2
Prizes: Nonemployee  : 1099-MISC
Profit-sharing plan  : 1099-R
PS 58 costs :   1099-R
Punitive damages  : 1099-MISC
Qualified plan distributions  : 1099-R
Recharacterized IRA contributions   : 1099-R
Rents : 1099-MISC
Retirement  : 1099-R
Roth conversion IRA distributions   : 1099-R
Roth IRA distributions  : 1099-R
Royalties   : 1099-MISC
Section 1035 exchange   : 1099-R
SEP contributions : W-2
SEP distributions :  1099-R
Severance pay  :  W-2
Sick pay : W-2
SIMPLE contributions : W-2
SIMPLE distributions :  1099-R
Supplemental unemployment  : W-2
Tips  : W-2
Vacation allowance: Employee  : W-2
Vacation allowance: Nonemployee  : 1099-MISC
Wages :  W-2 

Once the information has been entered in the IRS 1099 software you are able do 1099 forms. In the 1099 form screen you can print or create a pdf file to email the forms. 1099 software prints recipient and payer copies to blank paper, preprinted laser 1099 forms or perforated blank paper.

The IRS gives you two options to file 1099 copy A and 1096 forms. You can mail paper forms or electronically file 1099 forms. Print the IRS copies, 1099 copy A and 1096 forms to preprinted red ink laser forms with 1099 software. The IRS requires 1099 copy A and 1096 forms to be scanned for this reason the software prints to preprinted red ink laser forms. For more information about 1099 forms go to irs.gov or call 866-455-7438. Electronically file 1099 forms using W2 Mate. 1099 software creates the file that is uploaded to the IRS. Find valuable 1099 form information online at www.irs.gov or call 800-829-4933.

See how to do 1099 forms by downloading a free trial of 1099 software …or go to our 2010 tax software buy page.

Wednesday, March 3rd, 2010

1099 Electronic Filing | 1099 Electronic Filing Software


W2 Mate, 1099 electronic filing software , allows business filers and accountants to meet IRS 1099 E-File requirements by providing a powerful solution for electronic reporting of 1099-MISC, 1099-INT, 1099-DIV and 1099-R .

Real Business Solutions , the maker of W2 Mate W-2/1099 filing system, reminds businesses and tax professionals of the 1099 electronic filing due date, which is March 31, 2010. W2 Mate, 1099 electronic filing software, is packed with features that make it easier than ever to create, print, import, process and e-file 1099 forms.

1099 Electronic Filing is a chore, but it doesn’t have to be. This is why we built W2 Mate. A powerful, yet very affordable,1099 software that takes the complexity out of year-end-reporting by providing the right tools to E-file W2 forms with the SSA and E-File 1099 forms with the IRS” says W2 Mate’s product manager.

W2 Mate W2 1099 software offers support for paperless (electronic) and paper (print) of wage and information returns 1099-MISC, 1099-INT, 1099-DIV, 1099-R and W-2.

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 filers, a free 1099 software demo can be downloaded by visiting the product’s page. 

Some of the features of this comprehensive, industrial-strength IRS 1099 electronic filing software include:

– Complies with IRS Publication 1220 (Specifications for Filing Forms 1099-MISC, 1099-INT, 1099-DIV, 1099-R) Electronically
– Complies with SSA Specifications for Filing Forms W-2 Electronically (EFW2).
– Handles an unlimited number of payers and recipients for preparation of forms 1099-MISC, 1099-INT, 1099-DIV, 1099-R and W-2.
– Eliminates the need for buying Forms W2 Copy A and W3 by printing government-approved laser substitutes for these forms on plain white paper
– Eliminates need to print and mail recipient copies of 1099-MISC form or employee copies of W2 form. This software generates electronic employee copies of W2 Form and electronic recipient statements of 1099 MISC form in – Adobe PDF format with password protection for security purposes.
– Imports data for W2 and 1099 forms from CSV files
– Imports data directly from QuickBooks, which removes the “800 Form” / “$10 Million payroll” maximum
– This 1099-MISC software exports W2 and 1099 data (employer, employee, payer and 1099 recipient information) to Excel format
– Prints 1099 forms on blank paper and preprinted red-ink laser forms.
– Automatically generates 1096 and W3 transmittals.

Meet the 2009 / 2010 1099 electronic filing deadline. Download W2 Mate and e-File 1099s in minutes. Click here to download.

Friday, February 26th, 2010

2009 W3 Form: 2009 W3 Instructions on How to Print Form W-3 in Tax Year 2010


2009 Form W3 is used to transmit paper 2009 w2 forms to the Social Security Administration. You can use W2 Mate, our W2/ W3 forms software, to create, print, email and e-file W2 forms, 2009 W3 forms, 1099 forms and 2009 1096 forms. Download a free demo of W2 Mate from our software download page.

2009 W3 Form- How to Print

1. Install W2 Mate 2009 W3 software.

2. Enter company information including W3 information.

3. Enter employees’ information.

4. Verify data entered is correct (names, addresses and totals).

5. Click the W3 form icon in W2 Mate located on the left side of the screen.

6. Again verify the information is correct. Box c contains the total number of 2009 W2 forms being sent with this 2009 w3 form. Boxes 1 through 19 contain the total amount from all the W2 forms being sent with this form W3. The main boxes on the W-3 form include:

– Wages, tips, other compensation
– Federal income tax withheld
– Social security wages
– Social security tax withheld
– Medicare wages and tips
– Medicare tax withheld
– Social security tips
– Allocated tips
– Advance EIC payments
– Dependent care benefits
– Nonqualified plans
– Deferred compensation
– For third-party sick pay use only
– Income tax withheld by payer of third-party sick pay
– State wages, tips, etc.
– State income tax
– Local wages, tips, etc.
– Local income tax

7. When printing W3 forms you have to options:

Printing data to preformatted red ink laser forms. To print to preprinted forms insert a form into your printer, click the print button from the W3 form page. Choose the option that states print data only on a preprinted red ink laser form. Click ok to print.

Printing SSA accepted laser substitute forms. This is an optional feature you can add to W2 Mate. It will allow you to print W2 copy A and w3 forms to blank paper (laser printer required). To print a laser substitute 2009 W3 form click the W3 form icon in W2 Mate. From this screen click print and choose the option that states print a complete laser substitute W3 form. Click ok to print.

Print/ E-file W3 Forms today.. Download a free w2 software demo or go directly to our tax forms and software buy page .

Friday, February 26th, 2010

MASS 1099 / 1096 : Print / e-file MA 1099-MISC, INT & Div on paper & electronically


Massachusetts 1099 and 1096 filing on paper and e-filing through electronic data transfer is fully supported inside our 1099 print and e-file software. W2 Mate, our W2 1099 software, allows MA filers to print 1099-MISC, 1099-INT, 1099-DIV and 1096 for filing with the MASS DOR. For Massachusetts businesses filers interested to learn more about W2 Mate, they can either visit our main page at www.realtaxtools.com  or download a free 1099 software demo.

Any individuals or institutions who issue 1099 forms (1099-MISC , 1099-INT or 1099-DIV) are required to file with the Massachusetts DOR an annual report of interest, dividends and other income taxable under G.L. c. 62. The income must be reported on the same basis as is required by the IRS.

For tax year 2009 and subsequent tax years (2010 , 2011, 2012..), if you are reporting 50 or more forms then you need to use electronic filing or “machine-readable form”. The format of 1099 e-file is similar to the one followed by the federal government as defined by the 1099 e-file specifications in IRS Publication 1220 (there are modifications to be made for municipal bond interest ). MASS 1099 e-file submissions should be uploaded using the Massachusetts Webfile for Business application (accessible from MASS.GOV) .

If you are filing less than 50 forms then you can use paper filing (1099 MISC Copy 1 ,1099 INT  Copy 1, 1099-DIV Copy 1 and form 1096) . Mail all paper 1099 reports to:

Massachusetts Department of Revenue
Form 1099 Reporting
P.O. Box 7045
Boston, MA 02204

Our 1099 MISC software allows users to print 1099 forms on paper or to generate 1099 electronic filing submissions that comply with IRS  “Specifications for Filing Forms 1098, 1099, 3921, 3922, 5498, 8935, and W-2G, Electronically” . Our 1099 tax software can also  import data directly from QuickBooks, which helps QB users filing MASS 1099 forms to either print 1099s or e-file 1099 forms with Massachusetts DOR.

Persons filing 1099 reports must submit such forms on or before the last day of February following the close of the calendar year (for example end of Feb 2010 if filing MASS 2009 1099 forms ). Please note that although Massachusetts does participate in the Federal – State Combined Filing Program, you are still required to submit a Forms 1099 file directly to MASS DOR.

Start filing MASS 1099 and 1096 forms today.. Download W2 Mate..