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Frequently Asked Questions (FAQs) |
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Questions in 'Forms' |
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Answers |
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| Will Account Ability support Form 1099-K in 2011? |
The Internal Revenue Service has issued proposed regulations under a new statute requiring that, starting with transactions in calendar year 2011, the gross amount of payment card and third-party network transactions be reported annually to participating merchants and the IRS on Form 1099-K. Account Ability will provide full support for Form 1099-K beginning with the 2011 reporting year.
For more information, see IRS Notice IR-2009-106. |
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| Will Account Ability support Forms 3921 and 3922 in 2009? |
Yes. IDMS is currently implementing these forms.
Form 3921 {Exercise of an Incentive Stock Option Under Section 422(b)}
Form 3922 {Transfer of Stock Acquired Through an Employee Stock Purchase Plan Under Section 423(c)}
More information will be posted as it is made available by IRS. |
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| Which tax forms are supported by Account Ability? |
Account Ability prepares all of the following tax forms electronically, on laser, inkjet, and generic dot matrix printers:
Information Returns: 1098, 1098-C, 1098-E, 1098-T, 1099-A, 1099-B, 1099-C, 1099-CAP, 1099-DIV, 1099-G, 1099-H, 1099-INT, 1099-LTC, 1099-MISC, 1099-OID, 1099-PATR, 1099-Q, 1099-R, 1099-S, 1099-SA, 5498, 5498-ESA, 5498-SA, W-2G.
Annual Wage Reports: W-2, W-2C |
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| If I use Account Ability, do I have to purchase forms? |
If you plan to use a dot matrix printer, you will need forms.
1098, 1099, 5498, W2G Filers: Electronic filers will not have to purchase Copy A returns (these are the red preprinted forms) or Transmittal 1096. Copy B can be printed on blank 8½ by 11 inch paper, one recipient per page with instructions. Depending upon the type of returns, Copy C, Copy 1,and Copy 2 print either 2 or 3 forms per page and will require blank perforated paper (unless you don't mind cutting these copies apart with a scissor). If you will not be filing electronically, you will need to purchase Copy A returns and Transmittal 1096.
W2 Filers: Whether you file electronically or not, you will not have to purchase Copy A returns if you have a laser printer --- IDMS has been approved by SSA to generate these copies on blank paper. Employee copies can be printed on blank 8½ by 11 inch paper, one employee per page with instructions or 4-UP (Copies B,C,2,2 on a single page). The 4-UP option will require either blank perforated paper or a preprinted form. |
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| Why does the word "Void" appear on Copy A of SSA approved Form W-2? |
Pursuant to SSA Publication 1141, General Rules and Specifications for Substitute Forms W-2 and W-3, the word "Void" must appear on Form W-2 (Copy A) in order to identify the "Void" box. Although the word "Void" appears on the form, SSA does not consider the form marked "Void", unless an "X" is printed to the right of the word.
A further excerpt from Pub. 1141 states,
"... to avoid confusion and questions by employees, employers are encouraged to delete the identifying number ("22222") and the word "Void" and its associated checkbox from the employee copies of Form W-2..." |
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