Get the job done faster ? try out the bulk TIN matching software

Posted by alisonreid29 on November 18th, 2014

For anyone making money in the USA, filing correct returns to the IRS is the minimum that they need to do. The IRS is known to levy stiff penalties if incomes and expenditures are not reported or reported incorrectly. Filing the returns used to be a nightmarish jobs until recently. But with the bulk TIN matching software and the Form W-2 software and other software applications, this job is now hardly worth any sweat. Everything can be done electronically and this means correct and timely submissions.

TIN matching in bulk is a process through which you as a taxpayer can submit your TIN/Name combination so that it is matched with the IRS records. When you opt for tin matching using the software, you can interactively make your submission and receive an instant acknowledgement for up to 25 TIN/Name combinations. In fact, the software is so powerful that with bulk TIN matching, up to 100,000 TIN/Name combinations can be submitted electronically and an instant acknowledgement is sent to you within 24 hours within 24 hours.

The associated benefits of using a bulk TIN matching software is that your name can be matched as a payee with TIN and W-9 name with IRS records, reduce the chances of penalty notices and backup withholding and of course, reduce any errors that may occur when doing this same job manually.

Form W-2 is used to provide information to your employees, the IRS, the SSA and the local and state governments. As an employer, you have to file Form W-2 to show the wages that you paid to each of your employees under certain considerations. These employees are those for which income, Medicare tax or social security was withheld. The employees also had their income tax withheld because they claimed less than the withholding allowance or didn’t claim exemption from withholding on Form W-4.

Form W-2 also needs to be filed by you as an employer if you paid remuneration for employee services including non-cash payments. This has to be done even if an employee is related to you.

There are other variations of Form W-2 that you need to be aware of. To correct a previous W-2 submission, you need to use Form W-2C. Form W-3C needs to be filed when social security is included in Form W-2C even it is for the purpose of changing an employee name or SSN. With the Form W-2 software, all these jobs become easier because everything is automated. You can import data, print it and file the data electronically using the Form W-2 software.

If you are thinking whether it makes sense to invest in the bulk TIN matching software and the Form W-2 software, then think again. These are only two aspects of the entire filing process. Invest in the software and all the income and expenditure headers under IRS can be filed electronically, saving you time, money and mental stress.

Find out more about the bulk TIN matching software and the Form W-2 software and the other similar applications and you will be delighted with what you see.

For those in trade or business, filing correct returns becomes easier and time saving with the bulk TIN matching software and the Form W-2 software.