Merchant Acquiring Bank IRS Reporting & Payment Settlement IRS Reporting

Merchant Acquiring Bank Reporting Solution.

As a leader in the information reporting industry for over half the Fortune100 companies, 1099 Pro is offering a complete solution for merchant acquirers that will need to begin reporting in 2011. Our comprehensive solutions ensure a seamless and IRS compliant platform to meet the upcoming information reporting and withholding requirements.

1. Evaluate overall acquirer needs and develop an IRS compliant implementation strategy.
2. Develop compliant merchant account opening procedures using real-time TIN/Name validation.
3. Setup merchant correspondence procedures for mismatch, corrections, and inquiries via web, IVR, and mail.
4. Batch verify all existing merchant TINs and associated legal names to identify mismatches.
5. Process and resolve mismatches in the IRS approved method.
6. Setup and begin tracking IRS notices. (CP2100/B-Notice, 972CG,...)
7. Setup withholding and reconciliation procedures in preparation for 2012.
8. Begin tracking transactions and process IRS compliance validation rules in real-time.
9. Verify/reconcile consolidated transactions for merchant year-end statements.
10. Customized printing of the merchant year-end statements in the IRS approved format.
11. Electronic and/or postal delivery of merchant year-end statements
12. Pre-filing corrections processing and corrected statement reissuing.
13. Electronically file all information returns in the IRS approved format.
14. Throughout the year process and file corrections for already filed forms.
15. Implement any IRS regulation changes for the next reporting year.

Software Features

1098, 1099, 5498, and 1042-S Forms.

Desktop, Web, and SQL Software Platforms.

Standard, YTD, and Transactional Importing.

Federal, State, Local, Yearly & Quarterly Filing.

Integrated Business Rules and Edits.

Custom Statements, IVR, and e-Delivery.

TIN Management, W-9, B-Notice, Bulk TIN.

Security Groups and User Rights Management.

Instant Access To 10 Prior Years of Data.

Optional Print, Mail, and e-File Service Bureau.

Services

Federal, State Reporting & Withholding Guides.

TIN Solicitation & Certification Service.

IRS Bulk TIN Matching Service.

Compliance Training Seminars & Web Casts.

Penalty Abatement & Audit Readiness Reviews.

1042-S, Foreign Payees Consulting.

Payment Card Transaction Reporting Service.

Year Round Information Reporting Services.

Health Care 1099-HC Processing and Reporting.

Compliance Reviews & Evaluation Reports.