Begin Seamless Form W-9 Collection With TaxBandits: First 5 W-9 Requests Are Free

ROCK HILL, SC / ACCESSWIRE / June 7, 2023 / Throughout the tax year, many businesses make payments for services to vendors and independent contractors in the course of doing business. At the end of the year, businesses are required to file 1099 forms with the IRS to report these payments.

The key to a seamless tax season and a smooth 1099 filing process is gathering and collecting required information from vendors ahead of time. Businesses can request their vendors' information using Form W-9. While Form W-9 is not required to be filed with the IRS, it does offer businesses and vendors the ability to share tax information securely.

TaxBandits W-9 Manger: Updating an Outdated Process

For many businesses, the process of requesting W-9 forms from their vendors can be a tedious and outdated one. Mailing or faxing paper forms back and forth between businesses can be time-consuming and erroneous. Scanning in signed copies isn't much better.

TaxBandits has a streamlined solution that removes the manual work and margin for error from the process. With the TaxBandits W-9 Manager, their clients can request W-9 forms electronically, the only information needed is the vendor's name and email address.

Once the request is sent, the vendor will receive an email with a secure link to complete their W-9. Once the vendor completes the W-9 and provides their e-signature, they will receive a copy of the forms for their records and the TaxBandits client that made the request will be notified.

Upon notification, the TaxBandits client can review and approve the W-9 form, which will then be stored securely in their account. When it comes time to file tax forms for this vendor, the information will already be available and verified by the vendor.

Streamlined Year-end 1099 E-filing

At the end of the year, when it comes time to file 1099 forms to report the payments made to vendors and independent contractors, the W-9 information is crucial. TaxBandits clients can easily access the information in their W-9 Manager to complete 1099 forms. This includes the vendor's basic information as well as their Taxpayer Identification Number (TIN).

First 5 W-9 Requests Free with TaxBandits

TaxBandits has revamped the W-9 Manager, further streamlining and simplifying the process. For a limited time, when creating a new TaxBandits account, clients can make their first 5 W-9 requests for free. This is a great opportunity for businesses to get familiar with the TaxBandits e-file application and begin gathering TIN information ahead of the year-end.

When asked about TaxBandit's W-9 solution, Agie Sundaram, the CEO and Co-founder of TaxBandits' parent company, SPAN Enterprises stated, "Now is the perfect time for businesses to iron out a strategy for collecting their vendors' and independent contractors' tax information. TaxBandits offers an ideal solution for capturing W-9 information and filing accurate forms. We encourage businesses to get started with TaxBandits."

Visit taxbandits.com today to create a free account and begin requesting W-9 forms.

About TaxBandits

The 1099 and W-2 experts! TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider of 1099 Form, Form W2, 1095-B, 1095-C, 940, 941, and W-9, serving businesses, service providers, and tax professionals of every shape and size.

The TaxBandits API provides a comprehensive electronic filing solution to all service providers, enabling seamless processing of Forms 1099, W-2, 941, 940, and W-9. Visit https://developer.taxbandits.com/ to know more.

About SPAN Enterprises

Based in Rock Hill, South Carolina, SPAN Enterprises has been developing industry-leading software solutions for IRS e-filing and business management tools for over a decade.

The SPAN Enterprises portfolio of products includes TaxBandits, Tax990, ACAwise, ExpressExtension, 123PayStubs, and TruckLogics.

For any media inquiries, please reach out to Stephanie Glanville, Content Writer at stephanie@spanenterprises.com.

###

SOURCE: TaxBandits