E-File Magic 1099 Software – Blog

January is a month we love here at E-File Magic!  It’s our busiest month, and we work all year to get the software and website ready for the 1099 Filing Season.  You might think we’re strange, but we love tax forms and we are more than happy to help you with using our software or submitting your Excel Orders.

If you have a question, send us an email at support@efilemagic.com or give us a call at 877-836-6680. Our customer support hours are: Monday – Friday 8:00am to 5:30pm PST.

At E-File Magic, we love hearing feedback on your experiences with our service.  Please feel free to send an email with any thoughts, concerns or compliments!

We hope using our services will help you enjoy tax season a little more as well.

Download our E-File by Excel Template Today!

Creating a Company/Filer/Payer is one of the most fundamental steps in the E-File Magic Software.  If you do not complete this section the software will not let you go to the next step of adding recipient data.  This section of the software is where you put the company’s information that is sending the 1099 to the recipient.  I suggest watching the video on how to complete this step.  It’s very entertaining!  Once you have watched the video, if you would like to download our 1099 software please do so!

Registering your E-File Magic software is a very important step in our 1099 Software process.  Make sure you add all the fields in correctly with a current phone number and email address.  If anyone needs to contact you from E-File Magic, we will use your registration details information for contacting.  Please check out this video, which is short and sweet about Registering E-File Magic.

Download E-File Magic’s 1099 Software Today!

After my husband learned how to tile a bathroom floor by using You Tube, I’m completely convinced that you can learn how to do practically anything by watching a video.  So, along those lines, the E-File Magic Team decided to make a video on how to install our 1099 Software to your PC.    This video will completely show you the steps on how to install from clicking on the download icon on our website to opening the software up once the install is completely.  So watch the video and then download our 1099 Software!

There are many deadlines when it comes to taxes.  And most of these deadlines are etched in our brain forever; like April 15th is usually the day to file taxes and the 4th Thursday in November is always Thanksgiving (hey, I do a lot of work on Thanksgiving, I consider it a deadline).  Anyways, here is another deadline for you, E-File Magic is requesting that all transmittal for our print and mail service be received by January 23rd, 2012 so we can get all forms out by the IRS deadline of January 31st.  If you miss the deadline of January 23rd and would still like to use our service, you may, and we will try to get all mailings out but, we cannot guarantee that you mailings will be sent out by the 31st.

So download our 1099 software today and get to work!  January 23rd is right around the corner!

In a tax class many years ago, my professor said that many schools do not know how to fill out form 1098-T correctly.  It’s a shame really, but most schools have thousands of students and at times, information about tuition paid can get a little jumbled.

According to the IRS, you should furnish a 1098-T if you are an eligible educational institution.  You must file a 1098-T for each student enrolled and has a reportable transaction.  You must also file a 1098-T form if you are an insurer and have made reimbursements or refunds of qualified tuition and related expenses.

Not all students qualify for a form 1098-T.  If there has been no academic credit for a class taken, a non-resident student, if the students tuition is completely paid by scholarships or grants, or if the student isn’t paying for school, but their employer or a government entity is paying for their schooling instead.

For the applicable students, all qualifying tuition must be reported.  Tuition that is not considered to be qualifying; amounts paid for any course or other education involving sports, games, or hobbies, unless the course or other education is part of the student’s degree program or is taken to improve job skills, and charges and fees for room, board, insurance, medical expenses, transportation, and similar personal, living, or family expenses.

Phew! I hope that clears up some of the confusion a bit.  Hopefully my old tax teacher will be proud.

Working in E-File Magic’s 1099 Software is a perfect way to spend a rainy afternoon! Download the 1098-T version today!