The Internal Revenue Service
Government Regulations outline the procedure for submitting year-end W-2
and 1099 information on computer-based magnetic media. According
to these regulations, companies reporting 250 or more W2 or 1099
forms must file this information using magnetic media. The simple,
easy-to-use Sage MAS 90
and Sage MAS 200
Magnetic Media Reporting module is designed to assist you in complying
with these regulations.
The Magnetic Media
Reporting module provides the capabilities for reporting wage and
payment information from the payroll and accounts payable modules and
1099-INT, 1099-DIV, and 1099-MISC information on 3 1/2" diskettes in the
format required by the federal government.
Several states have also
adopted magnetic media reporting regulations, using the federal
reporting requirements as guidelines. Sage MAS 90 and Sage MAS 200 users who file
W2s for employees or vendors who work or live in the states that comply
with either the current federal MMREF-1 format or the TIB-4 format can
file their state W2 information using the Magnetic Media Reporting
module. This module, integrated with Payroll and
Accounts Payable
modules, makes complying with taxing regulations easy and fast.
FEATURES:
Integration with Payroll
Magnetic Media Reporting
automatically retrieves and copies W2 information from the Payroll
module, eliminating duplication of tedious data entry.
Integration with
Accounts Payable
Accounts Payable
integration allows automatic retrieval of 1099-INT, 1099-DIV and
1099-MISC information, providing an easy method for companies to
comply with government filing regulations.
State Specific Reporting
Specific reporting
information for each state varies depending upon each state's
requirements. The Magnetic Media Reporting module supports the
states that comply with the federal filing format, as well as a
selected list of additional states. The module will create an
appropriate file format for these selected states. This ensures
that your system generates accurate filings and minimizes rejections
from government agencies. Also see the
California DE6 Magnetic
Media Reporting enhancement.
Test
Runs
Some government agencies
require you to submit a test diskette along with an application to
file on magnetic media. The Sage MAS 90 and Sage MAS 200 Magnetic Media
Reporting module provides test runs of federal and state W2s and
1099s, giving you the ability to comply with this requirement.
Send us an
email
to schedule an appointment with a Sage MAS 90
▪ Sage MAS 200 sales consultant.
For more information about
Sage
Software products,
visit
www.sagesoftware.com or
call us toll free at (888) 424-4066.
PDF is used with permission from
Sage Software.
