The Problem
Complying with legislative changes and the increasing burden of federal and state regulatory
requirements for business, while striving to maintain focus on core business issues, has forced
many organizations to prioritize and streamline their internal operations to reduce related
costs. Resource and equipment costs associated with the research, development, and maintenance
of regulatory processes and procedures throughout the organization are recurring annual
expenditures that will continue to increase. To address this challenge, successful organizations
have implemented alternative solutions that allow them to reallocate the majority of their
budgets to core business issues, re-deploy valuable resources to focus on business related tasks
and rely on subject matter experts to provide services on the ancillary regulatory functions.
Information returns, withholding issues, penalty prevention, penalty abatement, associated
internal research, development of compliant processes and procedures are just a few of the
responsibilities that all organizations are burdened with in the effort to comply with federal
and state regulations. Dedicated resources to perform these tasks throughout the year – every
year – can be very costly and have been proven to be a significant drain on resources due to the
associated risks for penalties that the organization can be assessed by federal and state revenue
agencies. Information reporting requirements change year after year at both the federal and
state level, requiring organizations to continuously dedicate these resources to monitor new
or proposed legislation and initiatives on an ongoing basis. Organizations need to address the
regulatory changes annually and analyze these regulatory changes not only for their impact to
business - but also for any requirements that may dictate change to internal procedures and
processes. Failure to be aware of the requirements and comply, exposes your organization to
financial risk and can become very costly. To make these matters worse, the IRS has significantly
increased audits and has a renewed focus on the penalty process and is no longer accepting "blanket"
abatement letters to absolve penalty assessment. In most cases the IRS now requires proof of
compliance to support any claims for abatement and the IRS is expanding audits to closely review
your processes and procedures within your organization.
The Solution
IRSCompliance.org can assist your organization in meeting the demands for regulatory compliance,
with respect to 1098, 1099, 5498, 1042-S, W-2G, W-2, W-2C and Puerto Rico returns. We offer a
full and complete line of regulatory services that will enhance and compliment 1099 Pro Enterprise,
Client Server, .NET & Application Service Provider (ASP) software and solutions or your existing
internal processes. Our service offerings include:
IRSCompliance can provide your organization with a fully compliant process
by relying on us to process and file your Federal and State information returns, payment tracking,
B-Notice processing and annual payee statements. IRSCompliance.org can host your 1099 reporting
process via ASP or can manage the process remotely to a server within your site, depending on your
preferences. Our Premier 1099 Reporting Solution will enable you to improve your compliance with
the federal and state regulations, reduce costs and allow you to concentrate on what matters most
– your business!
Jerry Michael, President of IRSCompliance.org is the former Chief of Information Returns at the IRS
Martinsburg Computing Center and is a frequent lecturer at many conferences and seminars on topics
related to Information Reporting, TIN Compliance, Backup Withholding, B-Notice and Penalty Notice
issues and the TIN Matching Program. All of the professionals at IRSCompliance.org have extensive
experience as an IRS professional and/or as subject matter experts in private industry, providing
your organization with knowledgeable and the most reliable service available. IRSCompliance.org
is committed to providing superior and qualified services for information reporting to the business
industry.
