Wrapping Up the 2023 Tax Year: New Filing Features and Technology for Business Owners!
The tax season is here and it’s time for business owners, tax preparers, and service providers alike to begin their year-end filing process with the IRS. Once again, the TaxBandits team is here to help your business prepare for a seamless tax season!
Here is an overview of all the new and enhanced features and technology from TaxBandits that will kickstart your filing process, saving you time and trimming your bottom line!
Streamlined TIN Collection: TaxBandits W-9 Manager
To streamline your tax season, the TaxBandits team started by enhancing our W-9 Manager. This allows our clients a more efficient option for requesting W-9 forms from independent contractors and vendors that their business works with during the year.
With TaxBandits’ W-9 Manager, the process of sending a W-9 request can be achieved within a few clicks. All you need is the freelancer or vendor’s email address. After sending the W-9 requests either one at a time or in bulk, your W-9 recipient will receive an email prompting them to complete, e-sign, and submit their W-9 via our secure portal.
This eliminates the need to chase your recipients as tax season draws closer. Plus, this crucial TIN information will be verified through TIN Matching and stored securely until it is time to file 1099s!
Check out this video to learn more!
Unlimited TIN Matching Services
You can now take advantage of TIN Matching for all the businesses in your TaxBandits account. For just $19.99 per business, you can activate unlimited TIN matching for all of their recipients in the Address Book.
Check out this video to see how TIN Matching works!
Schedule Filings: Ensure Meeting IRS Deadlines
The new ‘Schedule Filing’ feature gives all TaxBandits clients the ability to schedule the date that their forms are transmitted to the IRS. When you complete and click to ‘Pay and Transmit’ forms, they will automatically be scheduled for transmission on January 7th. This is the projected date when the IRS systems re-open for the new tax year. However, you can edit this date from your TaxBandits Cart.
You can schedule your forms for filing anytime until January 25th (to meet deadlines on January 31st). This ensures you meet deadlines and gives you the flexibility to go back and edit your forms before sending them to the IRS.
Just keep in mind that the cut-off for editing forms is 10 PM EST on the day before they are scheduled to be filed.
Check out this video to see the process!
Enhanced Security from TaxBandits
If you haven’t already, now is the time to implement Multi-factor Authentication on your TaxBandits account! This is one of many ways the TaxBandits team safeguards your information. We have also implemented additional security measures during 2023 and enhanced our existing security protocols. This includes additional verification processes to protect our clients against tax fraud. Read more about our security protocols here!
Enhancements to Recipient Copy Distribution
TaxBandits continues to streamline our existing features, including the option to distribute your recipient copies with ease. The enhanced security and technology upgrades translate to a more efficient online access portal and postal mailing.
New 1099 Integrations: Freshbooks and Zoho Books
TaxBandits offers easy and flexible options for bringing your data into your TaxBandits account and filing accurate forms. In addition to our existing integrations with Xero, QuickBooks, and our 1099 e-filing partnership with Sage Intacct, TaxBandits clients can now connect their Freshbooks and Zoho Books accounts to TaxBandits for 1099 data imports.
Learn how to get started with all TaxBandits Integrations Partners here!
TaxBandits Expands Form Offerings for Tax Year 2023
The team at TaxBandits is always expanding on the forms we support to ensure our clients can maintain their business’s IRS compliance. The following new forms are now available for the 2023 tax year:
- Form 1099-OID
- Form 1099-SA
- Form 1099-LTC
- Form W-2G
- Form 3921
- Form 3922
- Form 1042-S
- Bulk Uploads are now supported for Form 1098-T
- A Fillable option for Form W-9
Get Started with TaxBandits Today For A Simplified Tax Season!
TaxBandits is ready and excited for the upcoming tax season – are you? Create your free TaxBandits account today for affordable and efficient e-filing of Forms 1099, W-2, ACA 1095, annual 94x Forms, and more!
Don’t forget to stock up on prepaid credits to lock in this year’s pricing for your tax year 2023 filing!
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