Real Business Solutions (www.W2Mate.com), the IRS compliance software provider, invites US lending institutions and tax professionals to try the 1098 filing module available in its W2 Mate software. W2 Mate, W2 1099 processing solution, is loaded with features that make it easy and affordable for filers to prepare IRS W2, 1099 and 1098 forms including IRS Mortgage Interest Statement forms. W2 Mate makes the 2011 / 2012 tax season is easy and stress-free.
The 1098 Mortgage filing module available inside W2 Mate software saves filers time and money by printing 1098 forms copy B (For Payer/Borrower) and Copy C (For Recipient/Lender) on regular white paper. This eliminates the need to buy expensive laser red-ink 1098 tax forms. All substitute forms generated by this 1098 printing software comply with IRS publication 1179 (General Rules and Specifications for Substitute Forms 1096, 1098, 1099, 5498, W-2G, and 1042-S).
Free W2 Mate software demo available at http://www.realtaxtools.com/
Form 1098: Mortgage Interest Statement is the IRS information tax form that banks and mortgage companies are required to issue to report mortgage interest (including points) of $600 or more received from an individual, including a sole proprietor. Also form 1098 is used to report mortgage insurance premiums of $600 or more.
In a statement Nancy Walters, W2 Mate product manager at Real Business Solutions said, “This new release of W2 Mate reflects our commitment to delivering affordable and easy-to-use 1098 printing and E-Filing solutions that help lenders and tax professionals, process 1098 mortgage tax forms in-house.”
W2 Mate has a unique mechanism for importing 1098 data from different accounting and payroll software to allow users print and e-file 1098 Mortgage Interest Statement forms.W2 Mate can import 1098 and other 1099 information from Sage Peachtree (including Peachtree Pro Accounting and Peachtree Quantum), Intuit QuickBooks (QuickBooks Pro, QuickBooks Enterprise, QuickBooks Premier), Microsoft Dynamics (GP or SL), Microsoft Great Plains, Sage DacEasy and Excel / CSV.
W2 Mate can also generate 1099 and 1098 electronic filing submissions ready to upload to the IRS FIRE System. The 1099 and 1098 electronic processing module that ships with W2 Mate provides the capabilities for E-Filing the following forms with the government: W2, 1099-MISC, 1099-INT, 1099-DIV, 1099-R, W-3, 1096, 1099-S, 1098-T, 1098, 1099-A, 1099-B, 1099-C, 1099-PATR and 1099-OID. Processing W2s, 1099s and 1098s electronically is easy to use, efficient, secure, fast, flexible, and above all saves filers valuable time and money.
For 2011, filers are required to send 1098 statements to borrowers by Tuesday January 31, 2012. 1099 reporting with the IRS is due on or before Wednesday Feb 29, 2012 for filers using paper forms and Monday April 2, 2012 for filers using electronic 1098 processing. Form 1096 is not required when filing electronically. Tax payers are mandated to file electronically with the IRS FIRE system if they have more than 250 1098 tax forms.
W2 Mate software highlights:
W2 EFile support (Complies with SSA EFW2 format Specifications for Filing Forms W-2 Electronically)
1099 EFile support (Complies with IRS Publication 1220- Specifications for Filing Form 1099 Electronically)
Generates ready-to-email w2 forms and 1099 forms. Which eliminates the need to print and email W2s and 1099s.
For paper filers 1096 and W3 are automatically generated.
Unlimited W2 forms and 1099 forms.
SSA approved to print W2 & W3 forms on regular white paper, which eliminates the need for expensive forms.
Network ready with affordable pricing for multiple seats.
W2 and 1099 data checking and validation.
Prints on pre-printed 1099 forms & W2 Forms.
Prints 1099 Form Copies & W2 Copies on blank paper.
Direct data import for QuickBooks 1099 forms and QuickBooks W2 forms.
W2 1099 data import from CSV file.
Exports W2s and 1099s to excel.
Give W2 Mate software a test drive and see for yourself how easy 1098 electronic filing and printing can be. Visit W2 Mate 1099 software page.