Convey Introduces Fully Managed 1099 Service

www.convey.com

Convey Compliance, which provides several 1099 compliance technologies and services, recently released a new web-based service for corporate accounts payable departments. The Taxport A/P system is designed to use the benefits of SaaS (no challenges of installation, integration and IT maintenance) to make 1099 reporting simple and automated, with the vendor directly managing most of the processing as a service.

Recent changes to information return reporting have dramatically increased the 1099 reporting requirements for many organizations, which has led to heavier workloads on accounts payable staff. Taxport A/P streamlines the entire process, with users only having to enter the core data and Convey handling the generation, printing and mailing of all forms, as well as compliance filings and payments. This automated service can reduce the risk of penalties from non-compliance caused by missed deadlines or out-of-date software.

The system includes support for most standard 1099 forms, including 1099-MISC, 1042-S, W-2 and W-2C. Options are available for backup withholding management, as well. Because this is a web-based system, users can access data and reporting from any location, while administrative and security features enable setting access rights. The primary interface is accessed via a browser and offers simplified data entry with status and action dashboards to keep staff aware of the reporting process. Taxport A/P became available in September 2010 and is priced on a subscription basis.