ROCK HILL, SC / ACCESSWIRE / January 25, 2024 / Several IRS/SSA deadlines are looming in the distance for businesses, tax professionals, and even payroll service providers. Additionally, many of these filers will be required to complete state filing of these forms. With just 5 more business days until the deadlines to complete and distribute year-end forms, now is the time to begin the process.
TaxBandits offers an e-file solution with recipient copy distribution options that are easy, accurate, and secure, enabling filers to maintain IRS compliance for the 2023 tax year.
Simplified E-filing and Copy Distribution for Business Owners
With TaxBandits, there is an e-filing solution for all! Even the smallest of businesses can complete their IRS forms and e-file in minutes with our streamlined filing process. Given that the IRS now mandates e-filing for any business submitting more than 10 returns in a calendar year, almost all businesses are required to e-file.
TaxBandits offers a solution that is easy and secure. Their clients can choose from manual or bulk filing, depending on the number of forms they must file. Additionally, TaxBandits has built-in error checks using the IRS business rules and State filing alerts to help clients file accurate forms and meet both their federal and state requirements.
After transmission, the forms will remain available in the TaxBandits account for up to 7 years, allowing for easy recordkeeping. TaxBandits clients can access, download, and print copies of transmitted forms as needed from their account’s Distribution Center at no additional charge.
Seamless 1099 E-filing for CPAs and Tax Preparers
TaxBandits offers scalable solutions to meet the needs of any accounting firm or large enterprise. With a TaxBandits Pro Account, tax professionals can leverage a robust tool kit of time-saving features designed to enhance their workflow. Best of all, these features are included for free and TaxBandits never charges upgrade or subscription fees. This includes:
- Staff Management – Add unlimited staff members and assign them roles and permissions.
- Client Management – Communicate securely and in real-time via a customizable portal.
- Integrations with leading Accounting Software – Connect existing Sage Intacct, QuickBooks, Xero, Zoho Books, and FreshBooks accounts with TaxBandits for simplified 1099 filings.
- Bulk Upload Options – Import all filing information in bulk using TaxBandits’ Templates.
- Smart Upload feature for 1099-NEC – Clients can bulk upload information using their own template.
- Volume-based Pricing – Pricing is tiered to help clients filing in bulk maximize their savings and lock in their best rates with prepaid credits that never expire.
- Unlimited TIN Matching – Activate 1 year of TIN Matching for $19.99 per business.
- Reporting – TaxBandits clients can generate reports to track the businesses they file for, the forms their staff members complete, and the credits used.
- Secure Credit Card Sharing – Clients can enable their team to transmit forms using a credit card stored securely in the account.
- Document Management – Clients can upload and maintain documents needed to file forms for the businesses in the account.
- Manage Office Locations – Large teams with more than one location can easily group team members by their office locations.
Seamless Recipient Copy Distribution
Just as important as the requirement to file these tax forms is the requirement to distribute them. TaxBandits handles this requirement for you with simple distribution options.
- Postal Mailing Services – TaxBandits prints and mails all recipient copies from a SOC 2 Certified facility, USPS validations are performed to ensure they are sent to a verified address.
- Online Access – Grant employees and recipients access to view and download their forms from anywhere at any time for years to come through the TaxBandits secure online portal.
IRS/SSA Tax Forms Supported By TaxBandits
With TaxBandits, clients can easily complete, e-file, and distribute the following forms that have a deadline of January 31, 2024.
IRS Payroll Tax Forms
- Form 941 (fourth quarter of 2023) – This quarterly payroll form reports Medicare, social security, and income taxes withheld from employee wages.
- Form 940 – Employers must file this annual form reporting Federal Unemployment Tax Act (FUTA) taxes.
- Form 943 – Employers in the agricultural industry file this to report the taxes withheld from the wages of their workers.
- Form 944 – Like the 941, this form is used to report Medicare, social security, and income taxes withheld from employee wages. It is for the smallest employers and is only filed annually.
- Form 945 – This form reports any federal income tax withheld from sources of Non-payroll payments. Examples include gambling winnings or backup withholding.
1099 Series Forms
- Form 1099-NEC (nonemployee compensation) – The deadline to e-file and distribute this form to recipients is January 31st.
- Form 1099-MISC (miscellaneous information) – The deadline to distribute this form is January 31st.
- Form 1099-INT (interest income) – The deadline to distribute this form is January 31st.
- Form 1099-R (retirement distributions) – The deadline to distribute this form is January 31st.
- Form 1099-K (payment card transactions and payments through third-party networks) – The deadline to distribute this form is January 31st.
- Form 1099-DIV (distributions and dividends) – The deadline to distribute this form is January 31st.
SSA Wage Statements
- Form W-2 – This is used to report wages and any federal income tax withheld from employees’ salaries. It provides a summary of an individual’s earnings and tax withholdings for the year
ACA Forms – State Reporting
- Form 1099-HC: This state tax form must be filed by employers of Massachusetts if they are required to report information about the health coverage plans they offer to their employees. The deadline to e-file with the state agency and distribute recipient copies is January 31st.
- Form 1095-B/1095-C: Employers and service providers that offer health insurance coverage plans to residents of California are required to complete and distribute 1095 Forms by January 31st.
Excellent Customer Support
TaxBandits takes a personal approach to assisting clients during the filing process, offering communication options such as email, phone, or a Live Chat function. In contrast to long phone trees and automated bots, TaxBandits is committed to providing timely support directly from an expert member of their team.
A complete list of supported forms can be found at taxbandits.com. Create a free account to begin the e-filing and distribution process!
When asked about the impending IRS filing and distribution deadlines, he responded, stating "As we approach critical IRS/SSA deadlines, businesses, tax professionals, and payroll service providers must initiate the process of completing and distributing year-end forms, including mandatory state filings. With just 5 business days remaining, TaxBandits provides a seamless e-file solution coupled with recipient copy distribution options that are easy, accurate, and secure, ensuring filers maintain IRS compliance for the 2023 tax year"
About TaxBandits:
TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider specializing in 1099, Form W-2, Form 1095-C, Form 1095-B, Form 940, Form 941, and Form W-9. Serving businesses, service providers, and tax professionals, TaxBandits offers a comprehensive solution for year-end filings.
Software providers and other high-volume filers can take advantage of TaxBandits API. The integration allows them to add value for their clients and expand monetization efforts. TaxBandits API enables seamless preparation and e-filing of 1099, W-2, 941, 940, and ACA 1095 forms. Software providers can also use the developer-friendly 1099 API to request W-9s and automate 1099 filings efficiently.
About SPAN Enterprises:
Headquartered in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software tools for e-filing and business management for over a decade. The SPAN Enterprises portfolio includes Tax 990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.
For media inquiries, please contact:
Stephanie Glanville
Content Writer, SPAN Enterprises
stephanie@spanenterprises.com
SOURCE: TaxBandits
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