Showing posts from January, 2016

Advantages to E-file over Paper

The IRS requires any Payer with 250 or more forms to e-file. In fact, the IRS recommends that everyone should e-file. E-filing makes their internal processes more efficient. With paper submissions, the IRS has to scan each form and hope the details are legible. Readability is never an issue with e-filed forms. E-filed forms meet data formatting requirements, too. The IRS rewards e-filers with an extra month to submit forms.

The extra time before the submission deadline is one distinct advantage of E-filing. What are some other ways paper filing and e-filing compare? Completing forms Paper filing: You have to decide how many forms you'll need. Then, go buy the forms. You'll either fill these forms by hand, or print your information onto the forms. Hopefully, you won't make more mistakes than you have forms. 

E-filing: You don't need to buy any pre-printed forms. You can type in your data, if you have a few forms. You can import from an accounting software. sav…

Save Time, Effort, and Money with Scheduled E-file

We’ve all been there. You create a 1099-MISC form to send to someone. Just before you send it out, you notice a typo. Or your address is wrong. Or the amount is wrong. Aarghh! Now you have to start all over! Depending on your process, that may or may not be true. Let’s look at a paper process and an online process to examine the differences. Paper Process You’ve bought forms from a local office supply store or ordered them online and had them delivered. The forms come in packs, so you have a limited number available. You need to make sure you don’t make many mistakes, or you'll run out before completing your filing. Also, you need to make sure you have some left over for the inevitable corrected filings later in the year.

If you discover the problem before you send the form out, you start fresh with a new form. Make sure you update the 1096 before submitting it.

 Here's another scenario: You don't catch the incorrect information, but your recipient does. If you have not su…