Latest news with #TaxBandits
Associated Press
28-03-2025
- Business
- Associated Press
The IRS E-Filing Deadline for Forms 1099, 1098, and 1095 Approaches: TaxBandits Simplifies Last-Minute Filing
Employers, businesses, and tax professionals can now e-file 1099, 1098, and 1095 forms with TaxBandits to meet the IRS e-filing deadline. Filing on time ensures compliance and helps avoid costly penalties. ROCK HILL, SC / ACCESS Newswire / March 28, 2025 / The IRS e-filing deadline for Forms 1099, 1098, and 1095 is March 31, 2025. Employers, businesses, and tax professionals must submit these forms on time to avoid significant penalties from the IRS. TaxBandits offers an easy-to-use and secure platform to help businesses and tax professionals meet the filing deadline confidently and accurately. Key IRS Forms Due by March 31, 2025 Compliance with IRS regulations requires businesses, employers, tax professionals, and insurers to e-file many tax forms by March 31, 2025. This includes: 1099-Series of Forms: This includes several 1099-series forms, such as 1099-MISC, 1099-INT, 1099-DIV, 1099-K, 1099-B, 1099-S, 1099-A, 1099-PATR, 1099-SA, 1099-OID, 1099-LTC, and 1099-QA, which report different types of income and transactions. ACA Reporting Forms: ACA Forms 1095-B and 1095-C must be filed by applicable large employers and insurance providers to ensure compliance with the Affordable Care Act (ACA). Other Required Forms: Other necessary filings include the 1098-series forms (1098, 1098-T, 1098-E, 1098-F), Forms 3921, 3922, and 8027. Penalties for Missing the Deadline Failure to meet the IRS e-filing deadline for Forms 1099, 1098, and 1095 can result in substantial penalties: Form 1099 Penalties: Businesses face fines ranging from $60 to $660 per form, depending on how late the forms are filed. These penalties increase significantly if the forms are filed more than 30 days after the deadline. ACA Form 1095 Penalties: For failing to file or providing incorrect information on ACA Forms 1095-C and 1095-B, businesses may incur penalties of $330 per return. The total penalty for a calendar year can reach up to $3,987,000 for large employers. These penalties highlight the critical need to meet the e-filing deadline. TaxBandits Offers Stress-Free Last-Minute Filing TaxBandits offers a user-friendly platform for e-filing 1099, 1098, and ACA 1095 forms. Businesses can rely on TaxBandits' tailored solutions to easily meet the deadline. Here's how TaxBandits simplifies last-minute filing: Federal and State E-Filing: Clients can e-file forms effortlessly with both federal and state. TaxBandits also supports state-only ACA reporting. Effortless Bulk Data Upload: TaxBandits enables seamless bulk data imports for tax forms through a standard CSV template or custom spreadsheet files. In addition, clients can use TaxBandits Excel templates to import ACA data. Seamless Recipient Copy Distribution: Clients can deliver recipient copies via postal mail, online access, or both, ensuring secure and timely delivery. Error-Free Filing with Built-In Checks: Built-in validation ensures accuracy by detecting and resolving errors before submission. AI Assistance & World-Class Customer Support: BanditAI, the AI assistant, offers real-time guidance, while the support team is available via phone, email, and live chat. Advanced Security Measures: As a SOC 2-certified company, TaxBandits prioritizes data security with top protection against breaches. Exclusive Features for Tax Professionals TaxBandits offers flexible solutions for CPAs, accounting firms, and enterprises. With a Pro Account, tax professionals can streamline workflows with time-saving features. Secure Client Portal: Tax pros can enable their clients to review forms, communicate securely, and manage documents in a customized portal. Team Management: TaxBandits provides the option to invite team members, assign roles such as preparer, approver, and transmitter, and delegate filings. Detailed Reports: Obtain valuable insights from reports on filings, clients, and team performance to support informed decision-making. Businesses, tax professionals, and service providers can easily e-file 1099-MISC, 1099-INT, 1099-DIV, 1099-K, 1098, ACA 1095, and many more tax forms at About TaxBandits The 1099 and W-2 experts! TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider of 1099 Form, Form W2, Form 940, Form 941, 1095-B, 1095-C, and W-9, serving businesses, service providers, and tax professionals of every shape and size. TaxBandits provides another advantage for high-volume filers and software providers. The TaxBandits API enables seamless preparation and e-filing of 1099, W-2, 941, 940, and ACA 1095 forms. Headquartered in Rock Hill, South Carolina, SPAN has been developing industry-leading software tools for e-filing and business management tools for over a decade. The SPAN Enterprises portfolio of products includes TaxBandits, ACAwise, ExpressExtension, 123PayStubs, TruckLogics, and WealthRabbit. [email protected].
Associated Press
17-03-2025
- Business
- Associated Press
Form 1042 & 1042-S Deadline Today. TaxBandits' Simplifies Last-Minute Filings with New Bulk Upload Option
March 17, 2025, is the IRS deadline for filing Forms 1042 and 1042-S, and TaxBandits' Bulk Upload feature helps businesses file quickly and accurately to avoid penalties. ROCK HILL, SC / ACCESS Newswire / March 17, 2025 / The deadline for filing IRS Form 1042 and Form 1042-S is today, March 17, 2025. Businesses and withholding agents must submit these forms by the end of the day. Missing this crucial deadline can result in substantial IRS penalties, making timely and accurate filing a priority. To simplify the process, TaxBandits introduces its Bulk Upload feature, making e-filing faster, easier, and more accurate. TaxBandits Bulk Upload: The Fast and Accurate Way to Meet The Deadline TaxBandits, an IRS-authorized e-file provider, offers a streamlined method for e-filing with its Bulk Upload feature. This tool allows businesses to upload multiple recipient records at once, minimizing the need for manual data entry and reducing the risk of errors. With hours remaining, the Bulk Upload feature is designed to ensure accuracy and speed with the following benefits: Speeds Up Filing - Multiple recipient records can be processed instantly, ensuring filings are completed before the end of the day. Reduces Errors - Built-in validation checks guarantee that all records are accurate before submission. IRS-Compliant E-Filing - Forms can be securely submitted, adhering to IRS regulations. Avoids Last-Minute Stress - The filing process is streamlined, making it easier to meet the deadline with confidence. Who Needs To File Today? Form 1042 and Form 1042-S are mandatory filings for withholding agents responsible for payments subject to U.S. tax withholding for foreign individuals and entities. Form 1042 is required for withholding agents who manage payments to non-U.S. persons, including foreign individuals, corporations, partnerships, trusts, estates, and financial institutions involved in cross-border transactions. Form 1042-S is used to report payments made to foreign persons, including interest, dividends, royalties, scholarships, and compensation for services performed in the U.S. Are There Penalties For Missing The Deadline? Failure to meet today's deadline may result in substantial penalties. Late Filing of Form 1042 - 5% of the unpaid tax per month (up to a maximum of 25%). Late Payment of 1042 Taxes - 0.5% of the unpaid tax per month (up to a maximum of 25%). Late Filing of Form 1042-S - Penalties range from $60 per form to $330 per form, depending on the timing of the filing. File Faster & Smarter with TaxBandits The TaxBandits Bulk Upload feature is the ultimate solution for businesses needing to file Form 1042 and Form 1042-S efficiently and accurately. Those required to file Form 1042-S or 1042 are encouraged to visit About TaxBandits The 1099 and W-2 experts! TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider of 1099 Form, Form W2, Form 940, Form 941, 1095-B, 1095-C, and W-9, serving businesses, service providers, and tax professionals of every shape and size. TaxBandits provides another advantage for high-volume filers and software providers. The TaxBandits API enables seamless preparation and e-filing of 1099, W-2, 941, 940, and ACA 1095 forms. Headquartered in Rock Hill, South Carolina, SPAN has been developing industry-leading software tools for e-filing and business management tools for over a decade. The SPAN Enterprises Portfolio of products includes TaxBandits, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics. [email protected].
Associated Press
12-02-2025
- Business
- Associated Press
The Recipient Copy Deadline for 1099-B, 1099-S, and 1099-MISC is Approaching Fast: TaxBandits Makes Distribution Easy
Businesses must meet the February 18, 2025 deadline to furnish recipient copies of Forms 1099-B, 1099-S, and 1099-MISC (Boxes 8 and 10) ROCK HILL, SC / ACCESS Newswire / February 12, 2025 / While January 31st was a key deadline for filing Forms 1099-NEC, W-2, and other 1099 tax forms, many businesses need to prepare for another essential tax deadline-February 18, 2025. This date marks the deadline for furnishing recipient copies of Forms 1099-B, 1099-S, and 1099-MISC (for amounts reported in Boxes 8 and/or 10). Failing to meet this deadline can result in IRS penalties, making it essential for businesses to stay on track with their tax reporting obligations. Forms Due by Feb 18, 2025 The February 18, 2025 deadline applies to the distribution of recipient copies for the following forms. Each form carries specific reporting requirements that businesses must adhere to in order to maintain compliance with IRS regulations. Form 1099-B Form 1099-B is an information return used to report broker or barter exchange transactions, including proceeds from securities transactions, stock sales, and other financial exchanges. Form 1099-S Form 1099-S is an information return used to report the exchange or sale of real estate property. The recipient copies must be furnished by February 18 to ensure sellers receive the necessary documentation for reporting capital gains or losses on their tax returns. Form 1099-MISC While Form 1099-MISC is commonly used for reporting various payments, only amounts reported in Box 8 and Box 10 are subject to the February 18 deadline for recipient copy distribution. State Filing Deadlines In addition to the federal deadline, certain states also have tax reporting deadlines. New Jersey and Iowa require filing Forms W-2 and 1099 by February 18, 2025. TaxBandits: A One Stop Solution to Meet the Deadline For businesses navigating complex tax reporting requirements, TaxBandits remains a trusted partner in ensuring accuracy and compliance. TaxBandits provides a comprehensive e-filing and recipient copy distribution solution, enabling businesses of all sizes to meet their tax reporting deadlines efficiently. In addition to affordable pricing, they offer unique, time-saving features. Here are some of the exclusive features offered by TaxBandits: Seamless E-filing Solution TaxBandits supports e-filing for a wide range of tax forms, including 1099, W-2, the 94x Series, and ACA 1095. The platform helps ensure accuracy with TIN Matching, USPS address validation, and IRIS Business Rule validations for 1099 forms. TaxBandits simplifies the distribution of recipient copies through secure online access, allowing recipients to retrieve their tax forms electronically. For those who prefer physical copies, Postal Mailing service is available. Businesses can even offer both options to accommodate different recipient preferences while ensuring timely delivery. Flexible Data Import Options and Integrations TaxBandits streamlines the e-filing process by supporting manual entry, bulk upload, and seamless integrations with leading accounting softwares, including QuickBooks, Xero, FreshBooks, and Zoho Books. In addition, TaxBandits serves as a trusted 1099 e-file partner of Sage Intacct, enabling simple data transfer. Advanced Security As a SOC 2-certified company, TaxBandits prioritizes data security by implementing industry-standard encryption, access controls, and compliance safeguards to protect sensitive business and taxpayer information. TaxBandits offers outstanding customer support via phone, email, and live chat. Also, clients can leverage BanditAI, a powerful AI chatbot designed to provide real-time assistance. Get started today with TaxBandits by creating a free account at About TaxBandits The 1099 and W-2 experts! TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider for 1099 Form, Form W2, Form 940, Form 941, 1095-B, 1095-C, and W-9. We serve businesses, service providers, and tax professionals of every shape and size. For high-volume filers and software providers, the TaxBandits API enables seamless preparation and e-filing of 1099, W-2, 941, 940, and ACA 1095 forms and BOI reporting. Use the developer filing 1099 API to request W-9 and automate the filing efficiently. About SPAN Enterprises Based in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade. The SPAN Enterprises portfolio of products includes TaxBandits, Tax990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics. For any media inquiries, please reach out to Caleb Flachman, Marketing Manager at [email protected].
Associated Press
29-01-2025
- Business
- Associated Press
TaxBandits Simplifies 1099 and W-2 Recipient Copy Distribution Ahead of the January 31st Deadline
ROCK HILL, SC / ACCESS Newswire / January 29, 2025 / With just two days left until the critical January 31, 2025, deadline, businesses must act quickly to file Forms 1099 and W-2 with the IRS, SSA, and state agencies. Equally important, this date marks the final opportunity to distribute recipient copies to employees and contractors for the 2024 tax year. Missing this deadline can lead to penalties, making timely action essential for compliance. How TaxBandits Simplifies Recipient Copy Distribution of 1099 and W-2 Forms? TaxBandits, an authorized IRS/SSA e-file provider, offers a comprehensive solution for e-filing 1099 and W-2 forms and also timely delivery of recipient/employee copies, making year-end tax filing easier for businesses, tax professionals, and employers. The platform provides multiple distribution options, ensuring clients can meet tight deadlines with ease. Flexible Options for Recipient Copy Distribution Online Portal Access For a modern approach, TaxBandits offers a secure online access portal where recipients can conveniently view, download, and access their forms anytime. As the deadline is in two days, it is highly recommended to use online access for recipient copy distribution to ensure timely delivery of the form copies. Additional benefits include: Custom Branding: Clients can personalize the portal to reflect their brand identity. Easy and Lifetime Access: Recipients can conveniently retrieve their forms anytime, enhancing accessibility without the need to create a TaxBandits account. By simply completing a quick verification using their TIN and providing consent, recipients can securely view and access their forms with ease. Eco-Friendly Option: Reduces paper waste while providing a cost-effective alternative to mailing. As per IRS guidelines, recipients must consent to receive electronic copies and access/download them by January 31, 2025. If not, the payers must send them a physical copy before the deadline. To facilitate this, TaxBandits offers a Smart Mail option that enables automated delivery of form copies to recipients who haven't accessed their forms online by January 29, 2025 (Today). Postal Mailing TaxBandits provides a reliable postal mailing service, ensuring physical copies of Forms 1099 and W-2 reach recipients on time. This option is ideal for recipients who prefer physical documents or for businesses looking to maintain a traditional distribution method. To ensure the accuracy of the delivery, TaxBandits offers a USPS Validation service that enables the clients to validate recipient addresses based on USPS records before sending out form copies. Advanced Distribution For comprehensive coverage, TaxBandits allows businesses to enable both options, ensuring recipients receive physical and electronic copies. This dual distribution method accommodates varied preferences and provides backup assurance in case one method is not utilized. Self-Service Printing Options TaxBandits empowers businesses with the flexibility to handle distribution independently. Users can download PDF copies in customizable formats (individual, consolidated, or perforated) and layouts (1-up, 2-up, or 3-up) for record-keeping or manual distribution. With the January 31 deadline just days away, businesses must act swiftly to ensure recipient copies are distributed on time. TaxBandits' range of options provides businesses with the tools needed to meet compliance requirements while simplifying the process. Businesses and tax professionals can create their own free accounts today and begin filing 1099-NEC, 1099-MISC, Form W-2, etc., and distributing copies at About TaxBandits TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider specializing in various tax forms, such as Form 1099, W-2, 941, 940, 1095-C, 1095-B, and W-9. Serving businesses, service providers, and tax professionals of every shape and size, TaxBandits offers a complete solution that fulfills all filing needs. TaxBandits provides another advantage for high-volume filers and software providers. TaxBandits API enables seamless preparation and e-filing of 1099, W-2, 941, 940, and ACA 1095 forms and BOI reporting. Leverage the 1099 API for developers to automatically request W-9 forms and streamline the filing process with complete security. About SPAN Enterprises SPAN Enterprises, based in Rock Hill, South Carolina, has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade. The SPAN Enterprises portfolio of products includes TaxBandits, Tax 990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics. Please direct all media inquiries to Charles Hardy, VP of Operations at [email protected].
Associated Press
27-01-2025
- Business
- Associated Press
TaxBandits Strengthens Its Partnership with Sage Intacct for Another Successful Season of 1099 E-filing
ROCK HILL, SC / ACCESS Newswire / January 27, 2025 / With the January 31, 2025, deadline for 1099 filing approaching, TaxBandits, an authorized IRS e-file provider, is partnering with Sage Intacct to deliver an automated and efficient e-filing solution for the 2024 tax year. For the third consecutive year, TaxBandits is helping Sage Intacct users simplify compliance with federal and state filing requirements. This partnership allows businesses to e-file 1099 forms and distribute recipient copies seamlessly, reducing the burden of year-end tax filing. How the TaxBandits and Sage Partnership Simplifies 1099 Filing The Sage Intacct 1099 e-filing solution powered by TaxBandits provides a comprehensive and automated process for managing 1099 filings. This partnership not only enhances efficiency but also ensures compliance with the IRS and state agencies. Businesses of all sizes can focus on higher-priority tasks while trusting the platform to streamline their tax compliance needs. The solution caters to small, mid-sized, and large businesses with its user-friendly interface, robust security features, and scalability. Whether users manage a single company or multiple entities, this partnership simplifies the process of managing and e-filing 1099 forms. Key Benefits of the TaxBandits and Sage Intacct Partnership Sage Intacct customers can experience a range of benefits by leveraging TaxBandits' automated e-filing platform: Effortless Data Transfer: Users can transfer 1099 data securely and accurately from Sage Intacct into their TaxBandits account with just one click. The seamless connection ensures that information is handled securely, reducing the risk of errors. Quick and Simple E-Filing: The platform eliminates the need for spreadsheets or manual data formatting. Forms can be e-filed within minutes, saving valuable time during the busy tax season. Error-Free Filings: Built-in validation tools check for common errors, helping businesses comply with IRS requirements and avoid penalties. This proactive approach reduces the likelihood of rejections and ensures smooth processing of forms. Stress-Free Distribution: TaxBandits minimizes administrative tasks by handling recipient distribution. Users can choose to have 1099 forms printed, mailed, and delivered securely to recipients. Lifetime Access for Recipients: Businesses can provide their 1099 recipients with secure online access to their forms through a dedicated portal, ensuring they can retrieve their tax documents at any time. In addition, they can customize this secure portal to reflect their branding. Watch this video for an overview of the Sage Intacct and TaxBandits partnership: PRO Features for Efficient Filing TaxBandits' PRO features enhance and streamline the filing process for tax professionals. Client Portal Offer clients a secure, branded portal where they can review forms before filing, communicate through secure messaging, and share or manage important documents seamlessly. Tax professionals can also customize email communications to maintain a polished and professional experience, enhancing collaboration and security. Team Management Invite unlimited team members, assign roles (preparer, approver, transmitter), and delegate tasks efficiently. Centralized tracking ensures clear accountability and timely filing completion. Reports Access detailed reports on filing activity, client data, and team performance. Use insights to monitor compliance, analyze trends, and optimize filing processes. A Partnership Designed for Success The ongoing collaboration between TaxBandits and Sage Intacct continues to demonstrate its value to businesses. Speaking about the partnership, Naga Palanisamy, President and Co-founder of SPAN Enterprises, stated: 'We're thrilled to partner with Sage Intacct for another successful tax season. This partnership allows us to provide automated e-filing services to even more customers, and we're eager to deepen our partnership. Together, we aim to simplify tax compliance and help businesses meet their filing obligations with ease.' By integrating with Sage Intacct, TaxBandits ensures that businesses not only meet critical deadlines but also avoid the stress and inefficiencies often associated with tax filing To discover TaxBandit's efficient e-filing solutions, visit About TaxBandits TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider specializing in various tax forms, such as Form 1099, W-2, 941, 940, 1095-C, 1095-B, and W-9. Serving businesses, service providers, and tax professionals of every shape and size, TaxBandits offers a complete solution that fulfills all filing needs. TaxBandits provides another advantage for high-volume filers and software providers. TaxBandits API enables seamless preparation and e-filing of 1099, W-2, 941, 940, and ACA 1095 forms and BOI reporting. Leverage the 1099 API for developers to automatically request W-9 forms and streamline the filing process with complete security. About SPAN Enterprises SPAN Enterprises, based in Rock Hill, South Carolina, has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade. The SPAN Enterprises portfolio of products includes TaxBandits, Tax 990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.
