E-File Magic Announces Updated 1099 Preparation Software for QuickBooks

Just in time for tax season, updates to E-File Magic’s tax processing software (http://www.efilemagic.com) are making it a lot easier for businesses to maintain compliance with their IRS reporting requirements. A leader in 1099 software and form processing, E-File Magic has added click-of-a-button QuickBooks import functionality, expanded on its popular e-file by Excel offering, and added several features in its downloadable software.

These new capabilities from E-File Magic build on the company’s original mission to provide easy-to-use 1099 processing software, without the expensive licensing fees. Instead E-File Magic charges for the services it provides, such as IRS E-File, Print and Mail, and Bulk TIN Matching. By expanding its import capabilities and maintaining low service fees, E-File Magic has streamlined the tax reporting process and created a solution to save time and money for small and large business owners.

E-File Magic Executive and CPA Sean Berry explains, "Processing these forms typically happens once per year for our clients. It's important to us to provide them with a simple process with unprecedented functionality."

New for the 2012 tax season, the QuickBooks® integration features allows business owners to seamlessly import their 1099 reporting information directly into the E-File Magic software within seconds. "When working on the 2012 version of the software we continued to keep simplicity and functionality in mind. We're excited about the new QuickBooks® import features and the overall simplicity of the process," Berry said.

For those customers that do not wish to learn a new software application, the company offers their “E-File By Excel” service. Businesses and Individuals simply input their data on a simple to use Microsoft Excel template and upload the template to efilemagic.com for processing (https://www.efilemagic.com/content/how-e-file-excel-works) and E-File Magic does the rest.


The E-File Magic Software is a complete 1099 tax form processing system that: 

   - Supports forms 1042-S, 1097-BTC, 1098, 1099, 5498, 3921, 3922, and W-2G
   - Offers e-filing, printing, and mailing of tax forms with no software licensing fees
   - Leverages high grade security to assist in keeping confidential information safe

E-File Magic Executive and Software Engineer Christopher Malott explains that E-File Magic’s 2012 updates continue on its commitment to consumer security and simplifying the tax filing process for businesses. He says updates to the software deliver with even greater data encryption capabilities, encrypting data in the client software database while users are working to help keep sensitive information safe while stored on users’ computers.

Another efficiency and cost saving tool offered this tax season is E-File Magic’s bulk TIN matching service, an add-on feature that checks to ensure taxpayer identification numbers are correct before submission to the IRS, an action that can result in considerable savings in fees for incorrect identification numbers or missing data.

“1099 Reporting Compliance is a moving target,” said Malott. “Failure to adhere to proper IRS guidelines and instructions can result in expensive penalties. Our best of breed software can assist in mitigating these penalties while simultaneously making this often tedious task a breeze.”

ExactCPA Comment: Efile Magic says that it offers a low cost way to file various tax forms with the IRS including Forms 1098, 1099, 5498, 3921, 3922, and W-2G.  They offer a low cost alternative to their competitors by not charging licensing fees for the use of their software.  By allowing users to pay for their services they need, it allows consumers to keep things simple.

Efile Magic has joined the masses in offering an import from Quickbooks.  According to the article, users can quickly import their information from Quickbooks to their software, saving those preparing these year-end tax forms a significant amount of time.  Is there anyone out there who has used Efile Magic with or without the Quickbooks integration?  What did you think?