Improve your company’s regulatory compliance and filing for tax year 2017.
Properly processing, filing forms 1099, 1098, 5498, W-2 and 1042-S, payee certification / validation, withholding & penalty prevention is a year round regulatory requirement.
Managed Services provides the filing community with a comprehensive, Managed Service Solution for 1099/1098/5498/1042-S/W-2 information processing and reporting. This service maintains your business profile; payee and payment database of reportable transactions and provides access to the user’s desktops through a secure web based internet connection.
IRS Compliance has been providing secure hosted 1099, 1042-S, and W-2 compliance reporting services for more than 18 years.
Managed Services will improve your federal and state compliance for information reporting and withholding – while reducing the burden, penalty risks, and costs associated with maintaining a compliant organization.
The Managed Services solution is supports current and multiple prior years of tax data to track payments and report 1098, 1099, 5498, W-2G, W-2, 1042-S series and Puerto Rico information returns to all federal and state agencies. This includes payee and payment information tracking, payee TIN management, B-Notice and TIN Penalty processing, recipient statements and the creation and transmittals of federal and state returns. With easy to use, point and click functionality, users can access the application (SaaS) and their secure payee and payment information directly from their laptops or desktop PC’s with internet access.
This service provides your users with secure access to the 1099, 1098, 5498, W-2, and 1042-S data from any location. Access to payee and payment data is literally a click away for adding new payees and accounts, inquiry, and updating. Users can choose to perform standard or customized data queries, request reports, and payee statements to be produced and printed on demand to your internal desktop or local printers.
By relying on Managed Services, your company can be confident that payments issued by your business areas are being monitored for the reportable status, processed and tracked throughout the year. Additionally those payments are balanced, reconciled, and filed as required by federal and state agencies, by regulatory experts. Our regulatory services group is comprised of tax compliance professionals, previously with the IRS, worldwide tax firms and Fortune 100 companies – all with long standing and proven expert experience in regulatory tax law and tax services.
Managed Services options include year round payee and payment data scrubbing, statements and Federal / State Reporting Forms 1099, 1042-S and W-2 processing, payment tracking, payee TIN management, B-Notice processing, penalty abatement assistance, IRS TIN matching, regulatory support and more.
Contact us now to find out how we can improve your compliance, processing, filing and client support throughout this upcoming tax filing season.
Business areas must apply updated standards on policies and procedures whenever reviewing or onboarding a new client to determine the correct Form W-8 or Form W-9 certification and be able to validate the documents according to the rules set by the IRS and apply backup withholding, Chapter 3 or Chapter 4 withholding on payments to foreign payees/entities.
In addition the reporting format and payee statements to foreign payees are changing drastically for tax year reporting 2014.
IRS Compliance, Inc. is not affiliated with the United States Internal Revenue Service or any State Revenue or Taxing Agency.
IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer: (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.