Paper W-2 and 1099 Forms Are Defunct

    GRAND RAPIDS, MI, December 30, 2014 /24-7PressRelease/ -- Each year, businesses in the United States must report wages paid to employees and contractors, a process which includes visiting the office supply store to buy traditional pre-printed W-2 and 1099-MISC forms and compatible envelopes and software, usually only available in larger quantities than are needed. Next, forms must be printed, stuffed and mailed to the recipient, state and federal agencies by January 31. This costs the average business, filing for 10 employees, about $300 in time and materials each year. The IRS increased the penalties for late filing by $100 per person in 2014.

Fortunately, small businesses can avoid expenses and time by using online tax filing software. Online wage tax filing software providers offer web-based options to enter 1099 MISC and W-2 form data online, then instantly print IRS-approved recipient copies on plain paper. Recipient copies can also be saved as a secure PDF. Most service providers electronically files the data to the IRS, SSA and states that participate by the established filing deadlines.

When choosing a tax filing software provider, it's important to use a service which is an IRS Authorized e-File Provider. It's also important to look for credible client lists and number of years' experience with the IRS. WageFiling, for example, is an Authorized e-File Provider which has been an IRS Quality Supplier since 1996. On WageFiling's databases, businesses' account data is stored securely year after year for easy access and filing.

This year, businesses have the opportunity to save more money on stamps, thanks to the new IRS regulation related to SSN Masking. SSN Masking protects the identifying information found on those forms by hiding the first five digits of the SSN or EIN with an X, ensuring businesses have done due diligence to protect its workers' identities from being stolen, regardless of whether forms are emailed or sent via the postal service.

An IRS Quality Supplier since 1996, WageFiling.com is a simple, cost-effective service which allows small businesses to quickly prepare and e-file 1099-MISC and W-2 forms online. Backed by bilingual English-Spanish customer service and industry leading e-filing software, the WageFiling team prides themselves on taking the stress out of wage tax filing.
 

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