Here’s how Tax1099 is helping gig economy companies file their 1099 forms more efficiently this tax season.
When life gives you lemons, you make lemonade. And when Tax1099 offers convenient ways to file your returns and manage your business tax reporting, you leverage it.
If you’ve been a part of the tax compliance journey with 100,000+ businesses that use and love Tax1099 every tax season, you would know just how awesome Tax1099 is. But if this is your first time coming across our space, you’re in for a treat!
Let’s get to the basics.
Tax1099 started out as your standard IRS-authorized eFile processor that enables businesses to file their returns electronically.
But we have evolved since.
Tax1099 is now one of the fastest and most-preferred digital tax compliance solutions providers for businesses around the world. You can choose from 40+ electronic returns available in our form directory and file them individually or in bulk, allowing you to spend less and file more.
With several value services, features, integrations, and a sleek interface, Tax1099 is really everything you need to process your IRS forms more efficiently.
Let’s learn about these features and experiences in detail.
Feature-Rich Platform
Security
All the digital experiences of Tax1099 are encrypted with a 256-bit advanced encryption standard, a security enhancement so powerful that the federal agencies and the U.S. army use it to protect top-secret information. Tax1099 also conducts an annual SSAE Type II audit to protect your data at all times. We scan our virtual pipelines to ensure that the platform is free from data interceptors. This way your data is truly yours.
Two Factor Authentication
This additional layer of security will protect your account from unauthorized access and keep you in control of who gets to access your account. The authentication process will also help us recognize and verify the devices from which you’re operating, so when an unauthorized or new device tries to use your credentials, we will alert you.
Single sign-On
With Tax1099’s single sign-on, you can create x number of payer profiles and access them all with a single account, without having to create multiple accounts for each payer profile. This is especially useful for paid preparers who usually prepare and file returns on behalf of their endless clients. You can select and file the returns for select profiles as needed.
Notice Management
Keep a track of all your communications with the IRS; manage your responses, documents, schedules, billing tasks, and more on this notice management dashboard. This is especially useful for enterprises that deal with bulk filings and data. Keep track of all your IRS communications and notices in one place and prevent being penalized by the IRS.
Rights Management
Create multiple user profiles and assign a set of rights or accessibilities to each user-specific to their authority over the data entry, review, and approval processes. This way each file passes at least two desks prior to filing, allowing you to accelerate reporting accuracy and reduce incorrect reports. This is a fast and effective way to create, complete, and validate your tax reporting information before filing with the IRS.
Workflow Management
Designate users for specific processes to complete the forms and review the forms prior to the filing. Coupled with Rights Management, Workflow Management helps users to streamline their tax processes according to priority and schedule/eFile their returns in bulk per the fastest approaching deadlines. Businesses can even choose to switch their paper filing processes to standard electronic format with this simple tool.
Form W-9 e-Solicitation
Businesses usually find it hard to solicit the TIN information from their vendors, especially if they did not obtain the TIN during the onboarding process. With safety measures and protocols in place due to the Covid-19 outbreak, W-9 solicitation can become even more complex.
But with Tax1099 by your side, it’s no longer a problem. You can easily obtain vendor information through W-9 solicitation by taking your business dynamics online.
This includes sending a W-9 form by email through Tax1099. The vendors can e-verify the information with their digital signature to certify the validity of the information before it reaches you, ensuring that you report correct TINs to the IRS.
On the off-chance of your vendors furnishing incorrect TINs, you can easily coordinate with the vendor through digital TIN requests, enabling your vendor to comply and submit the required TIN information before the predefined deadline. Further, you don’t have to worry about incorrect TINs. Tax1099’s real-time TIN matching allows you to look up the TINs as soon as you receive the W-9 forms, enabling you to check the TINs prior to reporting.
Bulk W-9 e-Solicitation
Businesses deal with vendors all the time. Some vendors provide their services throughout the year while others provide seasonal services, and keeping a track of all this information can easily get complicated as months roll in.
With Tax1099’s W-9 bulk electronic solicitation, you can obtain the TIN information from all or select vendors at once with ease. The digital signature coupled with real-time W-9 status updates allows you to check the number of vendors that have submitted the information out of the total requests.
Tax1099 will automatically send emails, prompting your vendors to provide the TINs before the due date per your pre-defined deadline.
Scale up your W-9 electronic solicitation as you grow and adapt with ease. Start Bulk W-9 e-Solicitation
Bulk TIN Matching
Customers love Tax1099’s real-time TIN matching the most for its simplistic, useful, and instantaneous approach. Businesses can import their TIN data and check 100,000+ TINs in less than a minute, saving hours spent on manual searches and effort.
Users can also opt to receive auto-generated reports to check the bulk TIN matching status of each TIN, enabling them to correct or re-check the mismatched TINs as required.
Supports 40+ Fed/State Forms
Tax1099 offers a directory of 40+ federal and state-compliant forms, enabling businesses to file and report with the forms as necessary. Our digital experiences also guide you to understand the purpose and uses of each form so that even on your busiest days, you do not forget or file an incorrect return.
The state form filing requirements page allows users to gain insights on each form, enabling you to file per the instructions and comply.
12+ Accounting Software Integrations
The available integrations enable you to import your tax-sensitized data to Tax1099 in a few quick seconds. Our dynamic platform will populate the validated data in the forms appropriately. This way you can streamline your tax reporting ops, saving you from the stresses of meeting the timelines every quarter.
Further, data management becomes easy with real-time data sync, enabling you to maintain up-to-date records of your transactions and accounts, which are readily available for reporting purposes.
The best thing about enabling these integrations is that users do not have to switch platforms over and over to update or import the data.
You can simply enable all the applicable integrations and Tax1099 will do the rest.
Apart from the following available integrations, Tax1099 also works with customized enterprise tools to enable businesses to manage their tax information reporting ops at their convenience.
- QuickBooks Desktop
- QuickBooks Online
- Xero
- Bill.com
- BQE Core
- Accounting Suite
- Tipalti
- Entrata
- FreshBooks
- Sage Intacct
- Zoho
- Excel
Tax1099 API for Bulk eFilings
When businesses have a lot to report but very little or resources on their hands, API solutions are an effective approach to managing tax reports. Easily plan your reports for a specific cycle and export your data to our API team.
We will keep you posted on the lifecycle process of your tax reporting ops along the way, right from data validation and reviews to filing and IRS communications, so that you breeze through every filing season with peace of mind.
Scheduled eFiling
Late filing penalties are dreadful realities for a lot of businesses. You can prevent your business from being assessed for late filing penalties by scheduling your e-files ahead.
Never miss a deadline with Tax1099’s Scheduled eFiling. You can select a specific date or leave it to Tax1099 and we will automatically schedule your completed returns for e-filing at least two weeks ahead of the IRS deadline.
Gig Economy Companies: eFile Your 1099s With Tax1099 In 5 Easy Steps
Set Up Vendors
Create your vendor profiles and enter the required business identity information to set up the vendor profiles with accurate information. Issue W-9 forms at this stage to obtain the vendor TINs so that you can move the vendor files to the next step of the process.
Verify Vendor TIN Information
Validate the vendor TIN and name combinations per the official records of the IRS through Tax1099’s real-time IRS TIN matching. Check 100,000+ TINs in less than a minute and report TINs accurately for your internal reporting processes and IRS filings.
Only add verified vendor profiles to your master sheet so that you don’t have to deal with the chaos of following up vendors during the year-end rush.
Create 1099 Forms
Choose from Tax1099’s form directory and select the forms you need to file to the state tax departments and the IRS.
Enter the required business information, vendor TINs, transactional data, and other state-specific information per the records.
Verify 1099 Information
Review, validate, and verify the completed form data to ensure that the returns report the information accurately. This extra step of review will help your business prevent reporting errors, TIN discrepancies, and other duplicated reports.
eFile Your Forms to the IRS
Easily submit the completed and verified forms online through Tax1099. Directly transmit your electronic returns to the IRS through our secure e-transmission platform. Choose from the available payment options to securely transact and submit your returns to the IRS successfully.
Instantly receive the payment confirmation notices. We will notify you of further updates.
Planning your tax reports will save your business from hundreds of empty hours spent on manual processes. All the effort and time can be cut down by at least 50% with Tax1099’s automated processes, which help you complete the very tasks with accuracy within minutes, giving you the time and the bandwidth to focus on other business operations.
Remember that regulatory reporting is one of the most important business practices to maintain compliance. By following a streamlined process with automation, your internal processes can also be disciplined so that compliance is never compromised.
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