What is E-File Magic?

The other day, I received a call from a customer, and she asked me, “what does E-File Magic do?”  I answered her question and made sure she understood how to get started.

And I thought to myself, maybe I should write a little something about what E-File Magic does and how it can simplify tax season just a little bit!

E-File Magic is a service that is an easy to use, IRS Approved, online 1099 Application. You can use our application to quickly, and efficiently create 1099 forms and e-File with the IRS.

Once forms are created, you can choose if you would like E-File Magic to email, print and mail your forms, or if you would like; print them and mail them yourself.  You do not need pre-printed forms to print from E-File Magic, just print using regular copy paper and the forms will print out exactly how you see them in the application.

Recipient info can be hand typed, or uploaded using Quckbooks, Xero, or Excel.  We also offer a concierge service that will upload your Excel template for you!

Not only does E-File Magic offer over 35 forms including 1099-MISC, W-2G, 1098, and 1098-T; we also have a new W-9 service that will help expedite receiving recipients information.

Check out the website and see if our services can help make filing 1099 forms easier and more efficient for you!

 

 

 

2016 Tax Year Deadlines

NEW IRS Deadlines:
Please note the IRS now has two e-Filing deadlines associated with 1099-MISC records.

  • 1099-MISC records with an amount in box 7 – e-Filing deadline is now January 31st, 2017.
  • 1099-MISC records without an amount in box 7 e –Filing deadline is March 31st, 2017.

E-File Magic Processing Deadlines:
To ensure compliance with IRS deadlines please “Release” your data by the following times and dates based on the services you are requesting.

  • Print, mail, and e-File services deadline – Release your data by 1:00pm PT, January 27th, 2017.
  • e-Filing services only deadline – Release your data by 8:00pm PT, January 31st, 2017.

The above E-File Magic  deadlines are to ensure compliance with IRS deadlines. As always, E-File Magic will continue to print, mail, and e-File as data is received after our deadline dates throughout the year.

Combined Federal/State Filing Program… What is it?

One of the top questions we get at E-File Magic is, “Do you file our forms to the state as well as to the IRS?”

Well, the answer is yes and no.  The IRS offers a combined filing program with some states in which they will forward the information we submit to the state.  But not all states participate in this service.  Below, you will see a list of states that participate in the combined filing program.  If the state you are looking forward is not listed, please refer to that particular state’s 1099 filing instructions.

  • Alabama
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Georgia
  • Hawaii
  • Idaho
  • Indiana
  • Kansas
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • New Jersey
  • New Mexico
  • North Carolina
  • North Dakota
  • Ohio
  • South Carolina
  • Vermont
  • Virginia
  • Wisconsin

2015 Instructions for Form 1098

Form 1098 is not a tricky form…. Form 1098 Mortgage Interest Statement is simply that, it’s the statement that reports the amount of interest paid, points paid on purchase of principal residence, and refund of overpaid interest (which must be a positive number).

In my experience, the trickiest part of the 1098 is where to enter in the negative interest amount, or the refunded interest amount.  This goes in Box 3 as a positive number.

If you would like some light reading for this 4th of July weekend, you can look over the instructions on Form 1098. i1098

E-File Magic Application is incredibly simple to use! Try us out with no obligation to buy a software license!!