Sovos 1099 – Tax Information Reporting Technology Software for All Your Input and Output Needs
Sovos 1099 has been designed differently than traditional software to accommodate the nuances associated with your source systems and processing requirements. You won’t have to accommodate us, we’ll accommodate you. No matter how many source systems you have, we can take the necessary data in virtually any format and quickly validate and transform that data to compliant tax forms. This capability minimizes the need for IT involvement and greatly enhances the ability to correct data prior to reporting. This eliminates errors and greatly reduces penalties.
If you want to add a withholding tool to your compliance solution, print dynamic notes and transactions on your tax statements, or insert additional pages between forms for clarification, just say the word. If you want ultra-specific user access to keep your information safe, consider it done.
Every Form Type
Sovos 1099 handles all your tax information reporting requirements, including every 1042, 1098, 1099, 3921, 3922, 5498, W-2, W-4, W-9, Puerto Rico, Canada, and Quebec form. Plus, all direct state and independent contractor reporting can be fulfilled using our platform.
On-Demand SaaS Technology
We know you need updates fast. That’s why Sovos 1099 lives is an on-demand Software as a Service (SaaS) offering. When the IRS announces form changes they are quickly reflected in our platform, keeping you well ahead of any deadlines. That matters when you are managing vast amounts of forms and last-minute state and federal regulation changes occur in January… again.
Sovos holds itself to the highest security standards available while maintaining a large degree of flexibility for a variety of user permissions based on role, function and data. Rest assured that our top-tier security certifications, reoccurring audits, dual secure backups, third-party penetration testing, and biometrically guarded data center with industry-leading data-at-rest encryption will keep your information safe.
Direct State Reporting
With slightly different tax regulations in over 40 states, direct state reporting has never been easier than with Sovos 1099. Whether it’s including a compact disc for the Alabama Department of Revenue or filling out an additional form in California, you can rest assured your process will be compliant.
Corrections & Penalties
We give you the tools to proactively prevent “B” Notices, penalties, and corrections with real-time tax ID validation, OFAC, and Death Master File checks. And, if inaccuracies remain, we also give you the tools to effectively address and fix those errors. Whether you are correcting or revising forms, Sovos 1099 allows you to easily reprint or update current and prior year forms while tracking changes, so you create a solid audit trail in case you ever need it.
Stop the presses and ask your form recipients to opt-in to paperless forms. They can then access their new, old, and updated tax forms online and in real time. Plus, soften the steep costs of printing and mailing.
Access Prior Tax Years
All data, including every form, is available for you to reference whenever and wherever you need it. That makes necessary reprints and corrections for yesteryear’s reporting easily accomplished when needed. Plus, you can leave those old 1096 paper forms in the dust — Sovos 1099 delivered updates to the IRS are entirely electronic.