ROCK HILL, SC / ACCESSWIRE / January 4, 2021 / With the 1099 deadline approaching on February 1, 2021, TaxBandits is here to help businesses navigate the changes to IRS filing for the 2020 tax year. With the introduction of Form 1099-NEC, the many changes to the quarterly employment Form 941, and the repurposing of the Form 1099-MISC, small businesses have a lot on their plate this tax season.
TaxBandits is an IRS authorized e-file provider that is designed to streamline the filing process for businesses of all sizes. One of the biggest challenges for small businesses this year will be the transition to using the Form 1099-NEC to file nonemployee compensation. Many small businesses will be required to file this form for their independent contractors and freelance workers.
To help business owners file their 1099s quickly and efficiently, they have the option to use the TaxBandits Bulk Upload feature. This enables users to upload their independent contractors' details all at once using our template, rather than manually entering each one.
To help business owners complete their 1099s accurately and on time, TaxBandits has added a feature that allows users to schedule their forms ahead of the deadline. Once the 1099 Form is complete, the user can schedule it for transmission before the deadline, in the meantime if they need to make corrections to the form, they can simply pause, edit, and reschedule. This helps ensure correct forms and eliminates the concern of forgetting to file.
When it comes to recipient copies, TaxBandits provides options to meet the needs of their employees. With the postal mailing option, TaxBandits prints and mails all of the employee/recipient copies, performing USPS validations to be sure each copy goes to a valid address.
There is also an online access option. Business owners can grant their independent contractors access to the TaxBandits secure portal. In turn, the independent contractors can login to view and download their forms at any time, from anywhere. This is a great solution for small businesses that are operating remotely.
In addition to filing Forms 1099 with the IRS, many states require this form to be filed with their state agency as well. TaxBandits offers state filing, so that business owners can maintain their federal and state tax compliance from one inclusive application.
When asked about the upcoming tax season, CEO and Co-founder Agie Sudaram stated, "2020 has been a challenging year for businesses, and the changes to year-end tax 1099 filing continue to add to that challenge. TaxBandits is here to streamline the process, offering time-saving features at an affordable price point."
About TaxBandits
TaxBandits is an IRS authorized e-file provider centered around an accurate, simplified, and secure customer experience. TaxBandits allows for the streamlined print, mailing, and e-filing of over 70 IRS Tax Forms. Using TaxBandits clients can easily file W-2 Forms, 1099 Forms, Payroll Forms 940 and 941 as well as ACA Forms. TaxBandits ensures IRS compliance by offering both federal and state filing options. With Advanced API Integrations and White Label options, TaxBandits offers a customizable solution for organizations of all sizes.
SPAN Enterprises, the creator of TaxBandits, is an industry leader of solutions for IRS tax filing and the transportation industry. Located in the heart of downtown Rock Hill, South Carolina, SPAN proves that big ideas can grow in a small town. With existing Business Management Software such as TruckLogics and Unitwise and new additions like ACAwise and PayWow, SPAN Enterprises is at the forefront of innovative applications. Learn more at http://www.spanenterprises.com.
Contact:
Stephanie Glanville
704.684.4751
[email protected]
SOURCE: TaxBandits