Print and Mail with Ease
by Christopher Malott
The printable recipient 1098, 1099, 5498, and W-2G forms E-File Magic 2.0 generates are designed to be “Z-Folded” and stuffed in double windowed number 9 envelopes. To help save you money on paper costs, almost all of our forms contain the form content, the instructions, miscellaneous information, and address information on a single page. We’ve even taken the liberty of generating a PostNET barcode on each form to help you ensure your recipients receive their forms as quickly as possible! For those of you that do not wish to use the standard number 9 envelopes, you can generate mailing labels from the ‘Generate Reports’ screen and affix those labels onto any envelop of your choice. The software supports Avery 5161 and 5162 style laser label sheets.
By constructing the forms in this manner, we believe you will see both an increase in efficiency and a decrease in processing costs. We understand your end of year reporting process can often be a complex and tedious task. This is just one example of the many ways E-File Magic can help simplify the job; so you can get back to what matters most, your business.
Have a wonderful and safe holiday!
Advice from the Expert
by Sean Berry, CPA
Limited Liability Companies have become very popular as a form of business. Wyoming was the first state to enact into law an LLC status of entities. This act followed in the foot steps of a German law dating back to the late 1800s. LLC’s have become popular primarily because of their flexibility as compared to other forms of business entities.
During the course of your business you will likely encounter situations where you need to issue 1099-MISC forms to one or more Limited Liability Companies. The IRS recently changed the wording and options on the W-9 (Request for Taxpayer Identification Number and Certification) to help alleviate some of the confusion commonly associated with determining whether you should issue a 1099-MISC form to an LLC or not. The W-9 now lists the various tax types a Limited Liability Company could be. In general an LLC can be a Disregarded Entity, a Corporation, or a Partnership. As a general rule of thumb, if the W-9 one of your vendors/suppliers provided you with indicates they are a Disregarded Entity, or a Partnership, chances are you will need to issue a 1099-MISC form. In general you do not need to issue a 1099-MISC form to a corporation unless you received legal services from the corporation. If in fact you did receive legal services, you will most likely need to issue a 1099-MISC form to that corporation.
We recommend you download the new W-9 form and begin using it as soon as possible. You can download a copy from the IRS’s website or by clicking here.
Every situation is different. Be sure to consult your tax advisor with any questions or concerns you may have. |
Who We Are
E-File Magic / 1099Magic
is your complete 1098, 1099, 5498, and W-2G print, mail, and IRS e-file solution.
Did You Know ?
E-File Magic 2.0 can backup and encrypt a copy of your data for safe storage.
Select the 'Backup/Encrypt Database' from the ' Database menu, and follow the on screen instructions. Once your backup is complete, your backup file will be located in the E-File Magic program folders, under the 'Backups' directory.
If you wish to use this backup data at some point in the future, simply click the 'Decrypt Backup Database' from the 'Database' menu, and follow the on screen instructions.
If you forget your backup password, you will be unable to recover your data, so make sure you use a password that is easy to remember.
Download Our Software:
Click here to download the latest version of E-File Magic 2.0.
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